Investment company Brait, whose largest shareholder is Christo Wiese, has announced plans to spin off and separately list Premier Group, in an initial public offering (IPO) that would value the fast-moving consumer goods group at as much as R8.6-billion. Brait, which currently holds 99% of Premier, would price the shares at between R53.82 and R67.04 per offer share, an equity valuation of between R6.9-billion and R8.9-billion, and representing between a 10% and 28% discount to Brait's latest valuation of the firm.
