Speculation that South African furniture manufacturer Steinhoff International is considering IPO continues in German business news media
April 14, 2014
( APA EconomicNews Service)
– South African furniture manufacturer Steinhoff International, owner of Austrian chain Kika/Leiner, is mulling over an IPO in Frankfurt/Main, the news magazine "WirtschaftsWoche” reported in its Saturday issue, quoting informed sources. The IPO could take place as soon as autumn, the magazine specifies. The firm is already listed in Johannesburg. The proceeds from the IPO could be used to accelerate the debt reduction programme of the firm and to raise means for expansion plans.
In the first half of business year 2013/14 Steinhoff generated a revenue of EUR 4.47 billion (USD 6.2 billion).
(EUR 1= USD 1.389)
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