05:18 AM EDT, 07/26/2024 (MT Newswires) -- Karooooo ( KARO ) said Friday Chief Executive Isaias Jose Calisto has terminated the secondary public offering of ordinary shares, first announced on July 24.

The company said despite strong investor interest and oversubscription, Calisto decided to halt the offering due to recent market changes affecting the share price.

As a result of such termination, no shares will be sold under this offering.

Shares of the company rose more than 7% in recent pre-bell activity.

Price: 31.00, Change: +2.20, Percent Change: +7.64