Brait slumps after announcing rights issue and new advisory partner
The investment firm will seek to raise up to R5.6bn through an equity capital raise, and has introduced a new advisory partner, Ethos Private Equity
27 November 2019 - 10:07
The share price of investment company Brait was on track for its worst day in four months on Wednesday, after it announced a rights issue representing more than half its market capitalisation.
Brait, whose largest shareholder is Christo Wiese, intends to launch an equity capital raise of up to R5.6bn, seeking to address debt problems and aiming to ultimately return cash to shareholders...
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