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JOHANNESBURG, Sept 14 South African investment
heavyweight Brait SE intends to seek a premium listing
in London to boost its profile and tap deeper pools of capital,
it said on Wednesday.
Brait, headquartered in Malta but run out of South Africa,
said it would also move its head office to the United Kingdom,
where it has extensive businesses including budget clothes
retailer New Look and gym chain Virgin Active.
"A listing on a major international developed market would
enhance the profile of Brait and improve its access to a wider
range of international investors and deeper pools of capital to
support any future capital raise," the company said.
Brait, which counts South African retail magnate Christo
Wiese as a shareholder and board member, also said it was
considering issuing new shares or selling bonds that are
convertible into stock to raise money for expansion.
The company has grown from a private equity player to an
investment heavyweight worth 60 billion rand ($4.19 billion)
with assets that also include British supermarket chain Iceland
and South African food company Premier.
Brait said would retain its secondary listing on the
Johannesburg Stock Exchange.
($1 = 14.3145 rand)
(Reporting by Tiisetso Motsoeneng; Editing by David Goodman)