Brait plans rights offer to protect its private equity assets

The listed private equity investor Brait will launch an equity capital raise of at least R5 billion in a rights offer to existing shareholders and a potential non-pre-emptive specific issue of shares of up to R350 million. Brait was severely impacted by the Brexit in the UK which resulted in complete impairment of its investment in New Look, a retail group based in the UK. Brait remains the largest shareholder in good quality assets such as Virgin Active (72%), Premier Foods (99%) and Iceland Foods (63%).

Brait is an investment holding company focused on driving sustainable long-term growth and value creation in its investment portfolio of sizeable, unlisted businesses operating in the broad consumer sector. Brait’s shares are listed on the Luxembourg Stock Exchange as well as a secondary listing on the Johannesburg Stock Exchange.

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