Steinhoff set to raise about R15bn in Pepco’s Warsaw listing
The embattled retailer has announced pricing of Pepco shares ahead of a May 26 listing, and will reduce its stake from 98.8% to 78.9%
14 May 2021 - 09:12
UPDATED 14 May 2021 - 09:41
Steinhoff International, which is still battling to recover from the accounting scandal that cost investors billions of rand, says it will raise about €900m (R15.34bn) when it lists its discount retailer Pepco in Warsaw later this month.
Announcing the pricing of the listing on Friday, Steinhoff said it will sell about 102.3-million shares in the initial public offering for €8.80 each, which should reduce its stake to 78.9% from 98.9%...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.