South Africa's Brait to raise up to $190 million via rights offer

(Reuters) - Investment firm Brait Plc said on Tuesday it would look to raise up to 3 billion rand ($189.73 million) through a rights offer to refinance its debt.

The Johannesburg-listed firm's net asset value per share - a key metric for investment holding companies such as Brait - came in at 8.14 rand at the half-year end, compared with 7.90 rand at fiscal 2021 end.

Brait said health club chain Virgin Active, in which the investment firm holds just under 80% stake, continues to recover from the effects of COVID-19 pandemic-induced lockdowns with all clubs now open and operational.

($1 = 15.8122 rand)

(Reporting by Aby Jose Koilparambil in Bengaluru; Editing by Shailesh Kuber)