South Africa

Steinhoff’s Pepco to list in Warsaw in three weeks’ time

Steinhoff, the SA-based consumer goods retailer that is still battling the fallout from the 2017 accounting scandal, will list its EU discount retailer Pepco on May 26 as part its efforts to reduce its more than €10bn (about R173bn) worth of debt.

Pepco, which trades from more than 3,200 stores across 16 countries in Europe, will sell 17.5% of its shares to retail and institutional investors at a price range of between €8.35 and €10.11 each, Steinhoff said in statement on Wednesday...

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