Steinhoff Africa Retail IPO a success, up 5% on day one
Shares in Steinhoff Africa Retail, the African retail assets of Steinhoff International, rose 5% above their IPO price on Wednesday after the company made its debut on the Johannesburg Stock Exchange.
The R15.4bn ($1.17bn) IPO is the biggest ever in South Africa and was priced at R20.50, the middle of the initial R18 to R23 range, on Friday, after orders from more than 120 investors.
On Thursday the stock rose another 1.6% to close at R21.85, up 6.6% from
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