We advised Karooooo and its founder and CEO on the SEC-registered secondary offering

Davis Polk advised Karooooo Ltd. and its founder and CEO, Isaias (Zak) Jose Calisto, as the selling shareholder, in connection with the $75 million SEC-registered secondary offering of 1,500,000 ordinary shares of Karooooo by the selling shareholder. The selling shareholder has granted the underwriters a 30-day option to purchase up to an additional 225,000 ordinary shares.

Karooooo, through its Cartrack and Karooooo Logistics businesses, digitally transforms physical operations by simplifying decision making. Karooooo services more than 125,000 commercial customers and more than 2,350,000 active subscribers in more than 20 countries globally. Founded in South Africa and headquartered in Singapore, Karooooo is listed on the Nasdaq Capital Market under the symbol “KARO” and on the Johannesburg Stock Exchange under the symbol “KRO.”

The Davis Polk corporate team included partners John B. Meade and Roshni Banker Cariello and associates Dylan H. Lojac and David Giordano. Counsel Alon Gurfinkel and associates Kelli A. Rivers and Ya Sheng Lin provided tax advice. Counsel Matthew R. Silver and associate Felipe Munoz provided 1940 Act advice. Members of the Davis Polk team are based in the New York and London offices.

Copy link to share post