Steinhoff raises R5.8bn to cut debt by selling shares in Pepco
The embattled multinational diluted its stake in the European discount retailer from 78.9% to 72.3% after the placement of its shares
18 January 2023 - 09:13
Struggling retailer Steinhoff has raised about R5.8bn (€315.2m) after selling some of its shares in its European discount retailer Pepco to cut its debt.
The company, valued at R2.09bn on the JSE, announced on Wednesday that it sold 38-million shares it holds in the retailer via IBEX Retail Investments (formerly Pepco Holdco) by the placement of shares...
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