Poundland owner Pepco to float on Warsaw Stock Exchange
Steinhoff, which is still battling the fallout of a 2017 accounting scandal, said it would sell at least 15% of Pepco's shares. Reuters cited sources earlier this month saying that Pepco is valued at around 5 billion euros ($6 billion), which means it could become Poland's biggest IPO this year. ($1 = 0.8256 euros)
- Country:
- South Africa
South African conglomerate Steinhoff will proceed with an initial public offering of its Pepco Group unit on the Warsaw Stock Exchange, it said on Monday.
Pepco owns Poundland in the United Kingdom as well as the PEPCO and Dealz brands. It trades from more than 3,200 stores across 16 countries and is led by Andy Bond, a former CEO of the Asda supermarket chain. Steinhoff, which is still battling the fallout of a 2017 accounting scandal, said it would sell at least 15% of Pepco's shares.
Reuters cited sources earlier this month saying that Pepco is valued at around 5 billion euros ($6 billion), which means it could become Poland's biggest IPO this year. ($1 = 0.8256 euros)
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