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 12:44
Zimbabwe has directed banks not to provide services to a local unit of SA-owned miner Zimplats, after it continued to put money in offshore accounts.
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.
Johannesburg - Change is clearly not something the investment public - especially the multitude of dividend hoarders - are terribly accomodating of in these fractious days.
Just ask private equity behemoth, and long time market darling, Brait [JSE:BAT], which earlier this month swapped its position as a private equity firm for a new strategic turn as investment holding company.
The offering will see Brait changing from a private equtiy firm to an investment holding company, raising R6bn in capital to fund new investors, appointing a new chief executive and take on Pepkor chairperson Christo Wiese, as an anchor shareholder of 33%.
The market voted with its feet with shares in Brait sliding 30% from January. In truth, this is no Sunday School deal.
Yet older, cooler heads in the market realise the importance of circumspection; that's if corporate strategy is viewed through a long-term lens.
On one hand, Brait's new focus could mean the start of a investment holding company capable of competing with PSG and Remgro. Or it could devolve into an ego-driven investment vehicle with the losers being the little guys who hitched their wagon to a Brait/Wiese combo.
The fact of the matter is that investors taking a punt on Brait are going to have to become used to a new jockey in the saddle. Incoming CEO, John Gnodde, is expected to guide the company forward under increased market scrutiny courtesy of the Wiese link. The question is whether or not Gnodde and Wiese can deliver the goods and justify the hype that is building around this transaction.
- The full version of this article was published in Finweek.
- To subscribe and read more Finweek articles, click here.