Private equity firm Brait has raised $936 million through a rights issue, Bloomberg reports. Existing shareholders bought about 81% of the offering and the remaining was auctioned by the Luxembourg Stock Exchange to its underwriters.

Brait’s investment team acquired another 30.3 million shares to get an 18% stake, while Titan Nominees acquired shares in the offering to raise its stake in Brait to 33.3%. The proceeds will be used to acquire shares in clothing retailer Pepkor and Premier Foods.

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