Pick of the Month: Brait
IM likes to follow the smart money and thinks Brait currently offers an attractive entry price with a five-year investment horizon
Many a JSE-listed stock has fallen from grace over the past five years, and Brait is no exception.
Almost everyone knows the details of the catastrophic demise of UK fashion retailer New Look. The latest development at New Look is that, along with other shareholders, Brait will recapitalise the business in a debt-for-equity swap transaction of about R12.5bn.