Andries Mahlangu and Katharine ChidSteinhoff could raise as much as €1bn 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. ..A subscription helps you enjoy the best of our business content every day along with benefits such as articles from our international business news partners; ProfileData financial data; and digital access to the Sunday Times and Sunday Times Daily.
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