Steinhoff Considers IPO of Pepco, Poundland Owner

Steinhoff International Holdings NV is considering an initial public offering of Pepkor Europe, its fastest-growing unit, as the scandal-hit South African retailer seeks funds for the next phase of its recovery plan, people familiar with the matter said. The company has been discussing a listing of Pepkor Europe with potential advisers, according to the people, who asked not to be identified because the information is private, Bloomberg News reported. The business -- which owns the Pepco and Dealz chains as well as Poundland in the U.K. -- could sell shares in the next year, the people said. Steinhoff shares surged as much as 7.4% in Frankfurt, where the company has its main listing. The retailer is considering selling shares of the Pepkor Europe unit in London, though a Warsaw listing is also a possibility, the people said. Read more