Steinhoff Africa Retail finishes biggest ever South African IPO

By Aidan Gregory
14 Sep 2017

The IPO of Steinhoff Africa Retail, known as Star, the African discount store assets of Steinhoff International, has been priced at R20.50 a share, the midpoint of the initial R18 to R23 range.

“It’s getting a good reception,” said a banker on the deal. “We’ve got some good accounts involved.”

Citigroup, Investec, Morgan Stanley and Rand Merchant Bank are global co-ordinators on the IPO, while Standard Bank and PSG Capital are bookrunners.

On Thursday afternoon, the leads said orders below ...

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