Stein­hoff African unit prices IPO

The Citizen (Gauteng) - - BUSINESS -

Stein­hoff ’s African unit priced its ini­tial pub­lic of­fer­ing at R20.50, near the mid-point of the mar­keted range and valu­ing the busi­ness at about R71 bil­lion.

Stein­hoff, the world’s No.2 fur­ni­ture re­tailer af­ter IKEA, is spin­ning off its Africa-fo­cused chains into a new en­tity called Stein­hoff Africa Retail. – Reuters

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