Steinhoff not out of the woods yet despite Pepco listing
Market reacts positively to IPO planned for the Warsaw Stock Exchange around May 26
Steinhoff could raise as much as €1bn (R17.2bn) from the initial public offering of its European discount retail unit, whose equity was wiped out in a multibillion rand accounting fraud.
Under the deal, announced on Wednesday, Steinhoff will sell as much as a 17.5% stake in Pepco in a price range of €8.35 and €10.11, raising as much as €1bn and valuing the company at up to €5.8bn. ..