Brait to raise up to R1.5bn in rights offer as part of recapitalisation plan

The board of Christo Wiese’s Brait has approved an inter-conditional recapitalisation plan that includes a fully underwritten equity capital raise of up to R1.5bn.

After an extensive engagement process with key stakeholders, the plan, announced on Monday, included three-year extensions of the maturities of the company’s bonds to December 2027 and the repayment or settlement adjustment to its convertible and exchangeable bonds, Brait said in a statement on Monday…