WeBuyCars sold 40 million shares for 750 million rand while its parent company Transaction Capital, an investment holding company, sold 8.145 million WeBuyCars shares for about 152.7 million rand following a book-building process. The shares were priced at 18.75 rand apiece, the companies said in a statement.

The final number of ordinary shares in issue as at April 11, the listing date, will be 417.2 million shares, WeBuyCars said, which at 18.75 rand per share implies a total market capitalisation of 7.82 billion rand for WeBuyCars.

From a family-owned business founded in 2001, WeBuyCars has grown into South Africa's leading pre-owned vehicle trader, with a market share of between 10% to 12%. It buys and sells about 13,500 vehicles per month.

($1 = 18.4919 rand)

(Reporting by Nqobile Dludla; Editing by Emelia Sithole-Matarise)