Page 20 - ஸ்டெய்ன்ஹாஃப் சர்வதேச ஹோல்டிங்ஸ் News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Steinhoff requires creditors green light for Pepco IPO has announced plans to list its crown jewel, discount retailer Pepco in an Initial Public Offering (IPO) on the Polish exchange. Pepco, which operates in a number of jurisdictions throughout Europe, is Steinhoff’s best performing asset and is valued at approximately $6bn. Steinhoff has lost more than 95% of its market value since accounting irregularities were uncovered by German authorities near the latter end of 2017. Many of the company’s top executives, including the chief executive at the time, Markus Jooste, have been implicated in the largest South African corporate fraud of recent years. Steinhoff requires the green light from its creditors before the IPO can go ahead. Veteran analyst Syd Vienello will unpack the details of the prospective listing and whether the corporate action will be value accretive for current Steinhoff shareholders on the BizNews Pour Hour this evening. – Justin Rowe-Roberts

South africaUnited kingdomSouth africanMarkus joosteJustin rowe robertsSyd vienelloPepco groupSteinhoff international holdingsSteinhoff groupFrankfurt stock exchangeInitial public offeringBiznews pour hourAccounting irregularitiesMarkus joosteUsiness newsSouth africa