Loading...
See More

Steinhoff European IPO could raise $2bn

Feb 23 2012 12:49 Reuters

Company Data

STEINHOFF INTERNATIONAL HOLDINGS LTD [JSE:SHF]

Last traded 73
Change 1
% Change 1
Cumulative volume 5558911
Market cap 0

Last Updated: 27-03-2015 at 04:19. Prices are delayed by 15 minutes. Source: McGregor BFA

Related Articles

Steinhoff acquires PSG stake

Steinhoff to take over JD Group

JD Group poised for growth

Steinhoff, Kap in $1.1bn deal

Steinhoff ups earnings

 
Johannesburg - Steinhoff International Holdings [JSE: SHF] could raise at least $2bn when it eventually floats its European unit, the furniture maker’s head of investor relations said on Thursday.

Steinhoff, Africa’s top furniture maker and one of Europe’s biggest furniture retailers, could list the European business in London, Paris or Frankfurt, said Mariza Nel, Steinhoff’s head of investor relations.

“The European unit is listable, it’s big enough but we’re not in a hurry,” she said, adding the listing could raise a minimum of €1.5bn ($2bn) depending on the free float requirements of the bourse it floats in.

Nel said there was no clear date as when the company would list the unit.

An initial public offering of the business would complete Steinhoff’s restructuring drive aimed at creating three listed separate businesses focused selling furniture in Europe, emerging markets and manufacturing.

Steinhoff sells furniture in Britain under the Harveys and Sleepmasters brands and in the rest of Europe under the Conforama brand.

The company also wants to increase its stake in South African retailer JD Group in a share-swap deal that would reduce its holding in manufacturing firm Kap International to about 62%.
steinhoff  |  jd group

 
 
 

Read Fin24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
0 comments
Add your comment
Comment 0 characters remaining
 

Company Snapshot

We're talking about:

SMALL BUSINESS

Johannesburg has been selected to host the Global Entrepreneurship Congress in 2017. "[The congress] will ensure that small business development remains firmly on the national agenda and the radar screen of all stakeholders, the Small Business Development minister said.
 

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...

Voting Booth

People who fall victim to Ponzi scams are:

Previous results · Suggest a vote

Loading...