Friday, 13 October 2017 11:58

Brainworks debuts as first Zimbabwean company with primary JSE listing

Written by
Rate this item
(0 votes)

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

Most Popular

SAPOA comment on the City of Cape Town's proposed drought charge

Jan 15, 2018
SAPOA Logo
SAPOA is cognisant of the fact that to postpone ‘Day Zero’, the City launched several…

Better flows and greater access: the new Flanders Drive M41 Bridge already adding value

Jan 16, 2018
Flanders Drive M41 Bridge MBA
Drivers and commuters in the Mt Edgecombe area will have noticed a significant…

RDI REIT completes on sale of German retail portfolio for €205 million

Jan 02, 2018
Mike Watters
Further to the announcement on 6 November 2017 regarding the exchange of contracts with…

National Home Builders Registration Council status update on the Soweto Disaster

Jan 16, 2018
Herman Mashaba assessing the damage of storm hit Soweto
Following our previous communications dated the 2nd January 2018, the NHBRC wishes to…

Acquisition of four flexible London offices valued at £161.7m

Jan 16, 2018
Michael Watters
RDI, the FTSE 250 income focused UK-REIT, announces the acquisition of an 80% interest in…