Billionaire Wiese’s Brait Is Ready With IPO of Food Business
- South African investment firm values Premier at $581 million
- Listing would be first on Johannesburg exchange since 2018
Photographer: Waldo Swiegers/Bloomberg
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Brait SE is ready to list South African food maker Premier as soon as more favorable 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 9.3 billion rand ($581 million), according to Brait’s annual results published Tuesday.