South African investment firm, Brait, will sell shares worth $864 million in a rights issue for its latest round of acquisitions, Reuters reports. It will issue up to 356.9 million new shares at $2.38, based on a ratio of three new shares for every existing one. The firm is seeking to acquire a 34.9% stake in retailer, Pepkor, and 49.9% in food manufacturer, Premier Group. Brait will not raise any more money from private equity investors. Former Brait CEO, Antony Ball, will continue to manage one of the firm’s existing private equity funds.
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