Steinhoff: IPO with discount subsidiary Pepco
The ailing South African trading group Steinhoff is going public with its European low-cost subsidiary Pepco: this was reported by the German business newspaper "Handelsblatt". On 26 May, the shares are to be traded for the first time on the Warsaw stock exchange, raising up to EUR 1 billion. In total, Pepco could be valued at around EUR 5 billion. Steinhoff needs the proceeds from the IPO to pay off its debts.
Pepco comprises the low-cost chains Pepco and Dealz in Eastern Europe and Poundland in the UK.Carpet Home-Newsletter: Click here for free newsletter subscription