{"id":8250,"date":"2012-02-23T14:32:06","date_gmt":"2012-02-23T12:32:06","guid":{"rendered":"http:\/\/www.myza.co.za\/02\/steinhoff-says-european-unit-ipo-could-raise-2-bln\/"},"modified":"2012-02-23T14:32:06","modified_gmt":"2012-02-23T12:32:06","slug":"steinhoff-says-european-unit-ipo-could-raise-2-bln","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/steinhoff-says-european-unit-ipo-could-raise-2-bln\/","title":{"rendered":"Steinhoff says European unit IPO could raise $2 bln"},"content":{"rendered":"<p>\t\t<span><\/span><\/p>\n<p><span class=\"articleLocation\">JOHANNESBURG<\/span> Feb 23 (Reuters) &#8211; South Africa&#8217;s<br \/>\nSteinhoff International could raise at least $2 billion<br \/>\nwhen it eventually floats its European unit, the furniture<br \/>\nmaker&#8217;s head of investor relations said on Thursday.<span><\/span><\/p>\n<p><span><\/span><\/p>\n<p>Steinhoff, Africa&#8217;s top furniture maker and one of Europe&#8217;s<br \/>\nbiggest furniture retailers, could list the European business in<br \/>\nLondon, Paris or Frankfurt, said Mariza Nel, Steinhoff&#8217;s head of<br \/>\ninvestors relations.<\/p>\n<p><span><\/span><\/p>\n<p>&#8220;The European unit is listable, it&#8217;s big enough but we&#8217;re<br \/>\nnot in a hurry,&#8221; she said, adding the listing could raise a<br \/>\nminimum of 1.5 billion euros ($2 billion) depending on the free<br \/>\nfloat requirements of the bourse it floats in.<\/p>\n<p><span><\/span><\/p>\n<p>Nel said there was no clear date as when the company would<br \/>\nlist the unit.<\/p>\n<p><span><\/span><\/p>\n<p>An initial public offering of the business would complete<br \/>\nSteinhoff&#8217;s restructuring drive aimed at creating three listed<br \/>\nseparate businesses focused selling furniture in Europe,<br \/>\nemerging markets and manufacturing.<\/p>\n<p><span><\/span><\/p>\n<p>Steinhoff sells furniture in Britain under the Harveys and<br \/>\nSleepmasters brands and in the rest of Europe under the<br \/>\nConforama brand.<\/p>\n<p><span><\/span><\/p>\n<p>The company also wants to increase its stake in South<br \/>\nAfrican retailer JD Group in share-swap deal that would<br \/>\nreduce its holding in manufacturing firm Kap International<br \/>\n to about 62 percent.<br \/>\n($1 = 0.7552 euros)\t<\/p>\n<p> (Reporting by Tiisetso Motsoeneng; editing by David Dolan)<\/p>\n<p><span><\/span><\/p>\n<p class=\"copyright\">\n<p>         \t\t\u00a9 Thomson Reuters 2012 All rights reserved<\/p>\n","protected":false},"excerpt":{"rendered":"<p>JOHANNESBURG Feb 23 (Reuters) &#8211; South Africa&#8217;s Steinhoff International could raise at least $2 billion when it eventually floats its European unit, the furniture maker&#8217;s head of investor relations said on Thursday. Steinhoff, Africa&#8217;s top furniture maker and one of Europe&#8217;s biggest furniture retailers, could list the European business in London, Paris or Frankfurt, said [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","ngg_post_thumbnail":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[1],"tags":[830,2370,183],"class_list":{"0":"post-8250","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-south-africa","7":"tag-news","8":"tag-reuters","9":"tag-south-africa-2","10":"entry"},"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/8250","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/comments?post=8250"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/8250\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=8250"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=8250"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=8250"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}