Steinhoff mulling IPO of Pepkor Europe to raise funds
The retailer is purportedly discussing a listing of Pepkor Europe with potential advisers as the next phase of its recovery plan
Johannesburg/Warsaw/London — Steinhoff International Holdings is considering an initial public offering (IPO) of Pepkor Europe, its fastest-growing unit, as the scandal-hit retailer seeks funds for the next phase of its recovery plan, people familiar with the matter have said.
The company has been discussing a listing of Pepkor Europe with potential advisers, according to the people, who asked not to be identified because the information is private. The business — which owns the Pepco and Dealz chains, as well as Poundland in the UK — could sell shares in the next year, the people said.