"Brait SE (“Brait”) is an investment holding company whose shares are
listed on the MTF Board of the Luxembourg Stock Exchange and also on the
JSE. Brait’s portfolio mostly comprises holdings in privately owned
businesses operating in a range of industries.
Having raised its first private equity fund (Brait I) in 1992, Brait’s focus until July 2011 was the raising and management of third party capital for investments predominantly in South Africa and its region. Over this 20 year period, Brait achieved an exemplary long term private equity return profile, with a gross IRR on its fully realised funds (Brait I, II and III) in excess of 30%.
On 4 July 2011, Brait completed its successful ZAR6.4 billion equity capital raising through a rights offer and private placement and the transition from a private equity fund manager to investment holding company. Together with debt facilities of ZAR2.2 billion, the aggregate ZAR8.6 billion raised was considered the largest capital raising on the African continent at the time. ZAR5.4 billion was immediately invested in acquiring 37% of Pepkor and 49.9%* of Premier Group, and in March 2012 GBP81 million on the acquisition of 18.7% of Iceland Foods.
On 6 August 2012, Brait issued R1.5 billion cumulative non-participating perpetual preference shares (listed on the EURO MTF market and JSE) via a private placement (“Brait Pref”) – at the time the largest non-bank issuance on the African continent. The net proceeds raised were fully applied to the settlement of Brait’s drawn borrowings, with the resulting undrawn facilities retained for future investment opportunities.
On 24 June 2013, a further R500 million of Brait Pref’s were successfully issued by way of private placement. The net proceeds raised were largely advanced to Premier Group to fund acquisitive growth..."
Having raised its first private equity fund (Brait I) in 1992, Brait’s focus until July 2011 was the raising and management of third party capital for investments predominantly in South Africa and its region. Over this 20 year period, Brait achieved an exemplary long term private equity return profile, with a gross IRR on its fully realised funds (Brait I, II and III) in excess of 30%.
On 4 July 2011, Brait completed its successful ZAR6.4 billion equity capital raising through a rights offer and private placement and the transition from a private equity fund manager to investment holding company. Together with debt facilities of ZAR2.2 billion, the aggregate ZAR8.6 billion raised was considered the largest capital raising on the African continent at the time. ZAR5.4 billion was immediately invested in acquiring 37% of Pepkor and 49.9%* of Premier Group, and in March 2012 GBP81 million on the acquisition of 18.7% of Iceland Foods.
On 6 August 2012, Brait issued R1.5 billion cumulative non-participating perpetual preference shares (listed on the EURO MTF market and JSE) via a private placement (“Brait Pref”) – at the time the largest non-bank issuance on the African continent. The net proceeds raised were fully applied to the settlement of Brait’s drawn borrowings, with the resulting undrawn facilities retained for future investment opportunities.
On 24 June 2013, a further R500 million of Brait Pref’s were successfully issued by way of private placement. The net proceeds raised were largely advanced to Premier Group to fund acquisitive growth..."
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