Steinhoff completes rights ready for German move

By Nina Flitman
07 Aug 2014

South African furniture retailer Steinhoff International has completed an R18.2bn capital raise, issuing 350m new shares as it repatriates capital ahead of its planned Frankfurt listing.

The new shares under the rights offer were offered at R52 each, with 16.58862 shares available for every 100 existing Steinhoff shares held.

The rights issue was completed in two parts after holders of around 50% of the existing shares renounced their rights in advance. This allowed around ...

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