Steinhoff Africa Retail finishes biggest ever South African IPO

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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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