South African multimillionaire business executive Jonathan Jawno has experienced a significant surge in his wealth, with the market value of his stake in Transaction Capital soaring by nearly $7.7 million over the past month. This surge is attributed to the recent uptick in the share price of the company on the Johannesburg Stock Exchange (JSE).
According to data from Billionaires.Africa, Jawno’s stake in the leading financial service group has increased by R146.06 million ($7.72 million), signaling growing confidence among local investors in the company’s trajectory.
Transaction Capital’s stock soars as WeBuyCars separation boosts financial position
Transaction Capital is a South African financial services group that specializes in asset-backed lending and niche risk services. It is a non-deposit financial services company with operations in South Africa and Australia.
In recent times, Transaction Capital’s shares on the JSE have increased from R7.51 ($0.397) on Feb. 12 to R9.52 ($0.503), propelling market capitalization above $410 million and returning impressive gains to its shareholders, including the affluent multi-millionaire businessman.
The surge follows Transaction Capital’s strategic decision to enhance shareholder value by separating its subsidiary, WeBuyCars. This move aims to generate R1.25 billion ($65 million) through capital-raising efforts, thereby strengthening the group’s financial position.
Jonathan Jawno, gains $7.72 million as stake value skyrockets
Jonathan Jawno, a founding member of Transaction Capital, holds a 9.59-percent stake in the group, amounting to 72,667,000 ordinary shares. This makes him the group’s second-largest shareholder, trailing only behind Public Investment Corporation, Africa’s largest fund manager.
In recent times, the market value of his stake in the Johannesburg-based financial services group has increased by R146.06 million ($7.72 million), rising from R545.73 ($28.86 million) on Feb. 12 to R691.8 million ($36.58 million).
The surge in Transaction Capital’s share price underscores the growing investor confidence in the company’s strategic moves and potential for growth, further solidifying Jawno’s position as a prominent figure in South Africa’s business landscape.
