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New Look owner cancels plans to list in London over Brexit

Brait, the South African company that owns New Look, has cancelled plans to list its shares in London, amid concerns about the market after Brexit.

The company said the timing of listing in London was wrong due to the “uncertainty ” of Brexit. 

In a statement Brait said: ”While the board remains convinced of the long term benefits to the company of a transfer to the UK and a listing on the London Stock Exchange, in light of the uncertainty introduced by the timing and form of Brexit and the potential impact on capital markets, the board has determined not to proceed with the transfer and premium listing at this time.” 

Brait is incorporated in Malta, but has a primary listing in Luxembourg and a secondary listing in South Africa. 

Readers' comments (1)

  • Brexit is the new "weather" excuse for poor performance

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