Steinhoff requires creditors green light for Pepco IPO
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 implic...