Motus acting CEO Ockert Janse van Rensburg celebrates the JSE listing of Motus
Photo by: Dylan Slater
Motus Holdings, which was recently unbundled from Imperial Holdings, says its independent listing on the JSE enables improved strategic focus, operational efficiency and has unlocked shareholder value.
Motus listed in the specialised retail sector of the JSE on Thursday, with a starting trade share price of R95 and an average of R85 apiece throughout the day, while Imperial’s share price dropped by 58% from the prior day to R58.55.
In 2017, after a strategic portfolio optimisation and realignment of Imperial’s businesses, Motus was created as a separate holding company for all the automotive businesses within Imperial.
Motus acting CEO Ockert Janse van Rensburg commented that investing in Motus means participating in the entire automotive value chain, through four key business segments, namely import and distribution, retail and rental, motor-related financial services and aftermarket parts.
Motus is the exclusive South African importer and distributor of Hyundai, Kia, Renault and Mitsubishi motor vehicles, panels and parts. These brands represent, collectively, about 15% of new-vehicle market share in South Africa.
Janse van Rensburg in a prior statement explained that Motus’ mostly UK and US investor base is seeking exposure to emerging market growth, rather than developed markets.
“It was these same investors that prompted a rethink of the Imperial group as a combined logistics and automotive business.
“They always found our integrated model difficult to understand. They are specialised in the US and it was difficult to sell the story of these two diverse businesses operating as one entity.”