Brait slumps after announcing rights issue and new advisory partner

  • 📰 BDliveSA
  • ⏱ Reading Time:
  • 17 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 10%
  • Publisher: 63%

South Africa Headlines News

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

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.

The company’s share price slumped as much as 13.5% in morning trade on Wednesday, putting it on track for its worst day since July. Brait will also get a new board after the recapitalisation, which is expected to be concluded in February 2020. John Gnodde, CEO of Brait’s current corporate adviser, will step down.


Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 12. in ZA

South Africa Latest News, South Africa Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Jealousy, competition and gossip in SA's second online Afrikaans soapieNetwerk24 has announced their second online soapie, 'Op en Af'.
Source: Channel24 - 🏆 48. / 51 Read more »

Remgro hunting for BEE partner for fibre businessesThe investment holding company’s CEO says it is ‘definitely not selling’ Vumatel or Dark Fibre Africa I thought he said he is leaving the country
Source: BDliveSA - 🏆 12. / 63 Read more »

Strategic privatisation of state assets is possible, Cosatu saysCosatu will consider a strategic equity partner for SAA, ‘but our conditions are that the state should remain a majority shareholder,’ says spokesperson Sizwe Pamla
Source: BDliveSA - 🏆 12. / 63 Read more »

EFF announces Musa Novela as Joburg mayoral candidateThe Johannesburg council is expected to sit on Thursday to elect a new mayor following Herman Mashaba’s resignation last month. Power Eh Foolish Fellows can’t even run a Shazam’s shoppie
Source: ewnupdates - 🏆 30. / 53 Read more »

'Sell SAA or shut it down': Opposition urges government to take action | IOL NewsPolitical opposition parties said government could not delay any longer on finding an equity partner for SAA, as MPs debated the latest crisis at the national carrier in the National Assembly.
Source: IOL - 🏆 46. / 51 Read more »

Candice Modiselle announces her exit from 'Generations: The Legacy'Actress Candice Modiselle recently announced that she will be leaving 'Generations: The Legacy' after three years on the SABC1 soapie.
Source: Channel24 - 🏆 48. / 51 Read more »