South Africa's Brait suspends LSE listing plan on Brexit uncertainty

A woman walks past the London Stock Exchange building in the City of London, Britain, January 16, 2017. Credit: Reuters/Toby Melville

South Africa‘s Brait has suspended plans to list on the London Stock Exchange, the investment firm said on Friday, citing uncertainty over Britain’s decision to leave the European Union.

Brait, which has majority stakes in clothing retailer New Look, grocer Iceland Foods and gym chain Virgin Active, said last year it intended seeking a premium listing in London to boost its profile and tap deeper pools of capital.

“We’re of the view that at this point in time, there’s just too much uncertainty as to exactly how Brexit is going to pan out,” Brait’s head of investor relations Mark Parsons said.

Read more: South Africa’s Brait suspends LSE listing plan on Brexit uncertainty| Reuters