Company Data
| Last traded |
R24.23 |
| Change |
R0.64 |
| % Change |
2.71% |
| Cumulative volume |
494,795 |
| Market cap |
R12.27bn |
Related Articles
Top Stories
May 25 2012 13:58
The costs of the first phase of the Gauteng Freeway Improvement Project have increased significantly to almost R90bn, according to a report.
May 25 2012 11:36
The JSE has identified and stopped "incorrect" trades from one of its members, and will reverse the trades and lower the session's total value after the close.
May 24 2012 17:31
The Reserve Bank will maintain current interest rates, and a considerable reduction in the local petrol price is anticipated, says governor Gill Marcus.
Johannesburg - Private equity group
Brait [JSE:BAT] announced a major business overhaul on Wednesday and said its chief executive will be stepping down.
Brait said in a statement it will become an investment firm raising funds in the public equity capital markets from time to time and focus on growth, a departure from the company managing third party funds raised from investors to fund private equity investments.
"The board of Brait believes that ... there is an opportunity to maintain the existing strengths of the private equity model while, for the first time, tapping into the strategic benefits of raising funds from the public equity markets through a listed vehicle," Brait said.
The company said it will raise an initial R6bn through a rights issue, the majority of this will fund the acquisition of significant stakes in unlisted retailer Pepkor and foods firm Premier Foods.
Brait said CEO Antony Ball will step down and will be replaced by Brait Private Equity CEO
John Gnodde.