Billionaire Wiese Seeks $372 Million Valuation for Premier’s IPO
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Brait Plc, the investment firm controlled by billionaire Christo Wiese, will proceed with an initial public offering of food manufacturer Premier Group Ltd. on the Johannesburg Stock Exchange.
The sale of shares will target raising between 3.5 billion rand ($189 million) and 3.6 billion rand, the company said in a statement on Friday. The offer price has been set at 53.82 per share, giving Premier an equity valuation of about 6.9 billion rand. Brait will retain a 47.1% stake in the foodmaker.