Friday, 13 October 2017 11:58

Brainworks debuts as first Zimbabwean company with primary JSE listing

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Brainworks Limited (“Brainworks”) debuted successfully on the JSE Main board under the “Equity Investment Instruments” sector earlier this morning under the abbreviated name “Brainwrks”, [JSE code: BWZ].

Brainworks_List_on_the_JSE

The company brings its unique investor proposition to market as the first Zimbabwean company to achieve a primary listing on the JSE Main Board. The listing of gross assets totalling US$151 million as at 31 December 2016 make up a quality portfolio offering exposure to the financial services, hospitality, real estate and energy logistics sectors in Zimbabwe. The anticipated market capitalisation of the company is around R869.7million.

Brainworks is an investment holding company with a business strategy to identify and acquire control or strategic equity interests in attractive companies with proven business models, primarily operating in Zimbabwe. Since its establishment in 2011, the group has built a strong portfolio of investments across various sectors.

The CEO Brett Childs: “We are confident that our strategy of listing on the JSE will prove sound and that international and Zimbabwean investors will view Brainworks as a vehicle to access our excellent asset portfolio and participate in the opportunity that is Zimbabwe. With approximately 38% of group revenue generated in hard currency, through our hospitality division, a large property portfolio and our focus on micro finance, banking and insurance we are well placed to benefit in a changing economic environment.”

Donna Nemer, Director: Capital Markets at the JSE, says the exchange is proud to welcome Brainworks to the South African market. “As Africa’s largest stock exchange, the JSE believes we can make an important contribution to the growth and the development of our continent. We do this through offering foreign investors a secure and transparent entry point into Africa and providing the companies who do business here with a liquid platform to raise further capital to fund their expansion.”

Last modified on Friday, 13 October 2017 12:11

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