Steinhoff is a multinational household and furniture magnate in South Africa. The company has shown its plans to go public with a debut listing expected in Frankfurt, Germany, said a newspaper report. The IPO was reported to occur later this year.
The funds taken in from the public debut of Steinhoff would be used to fund company expansion and pay off debts. This was according to a Reuters report, quoting a Wirtschafts Woche, a German magazine. Steinhoff was not immediately reached to comment regarding the reports.
Steinhoff is among the largest furniture retail firms in Europe, said a report from Ventures Africa. The company’s assets included Bensons for Beds, UK’s Harveys and Conforama, furniture and household appliances provider in Frances, Switzerland, Portugal and Spain.
Recently, Steinhoff unveiled its acquisition plans directed to purchase 98 percent holdings in JD Group. Currently, Steinhoff has 56 percent stake in the diversified South African group, reported Ventures Africa.
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