BRAIT SE is ready to list South African food maker Premier as soon as more favourable stock market conditions allow — in what would be the first initial public offering on Johannesburg’s bourse since 2018.
The investment group has completed six to nine months of preparation work ahead of the deal, Peter Hayward-Butt, a partner at Ethos Private Equity, said in an interview. The maker of Blue Ribbon bread and Snowflake flour is valued at about R9.3-billion, according to Brait’s annual results published Tuesday.
“We’ve got our hand above the buzzer and we could push at any time we want to and when market conditions” are favourable, Hayward-Butt said.
Ethos became manager of Brait’s portfolio, which also includes gym chain Virgin Active and British clothing retailer New Look, following a 2019 restructuring of the company that counts billionaire Christo Wiese as a main shareholder.
A successful listing of Premier would be
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