10:22 AM EDT, 07/24/2024 (MT Newswires) -- Karooooo ( KARO ) said Wednesday that Chief Executive Isaias Jose Calisto launched a $75 million secondary public offering of the company's shares.

Underwriters will have a 30-day overallotment option to acquire up to about $11.3 million worth of additional shares, the company said.

Karooooo ( KARO ) shares were down 8% in recent trading.

Price: 32.59, Change: -3.40, Percent Change: -9.44