MARC HASENFUSS: Pump those pecs for the Brait endgame
The Brait share is on steroids but the final value unlock could still be two years off, and will probably include listing Virgin Active in London and Joburg
21 November 2024 - 05:00
There were times in the past three years when I thought I’d never witness traction in Brait’s share price. The overriding doubt in the market around Brait’s valuations for its two big investments — health and fitness chain Virgin Active and consumer brands business Premier — coupled with the limited options to deal with the hefty debt load, pressed relentlessly on investor sentiment.
But since mid-August Brait shares are up more than 120%, even breaking through the 200c level last week … which is not that far from the exchange price of 221c a share for the Brait Investment Holdings exchangeable bonds...
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