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S.Africa’s Steinhoff raises $515 mln via Pepkor share sale

JOHANNESBURG, Sept 14 (Reuters) – South African retailer Steinhoff International said on Tuesday it had raised 7.3 billion rand ($515.46 million) via a sale of 370 million shares in subsidiary Pepkor.

Steinhoff announced on Monday it would sell 370 million shares in the furniture and clothing retailer – or almost 10% of its total stock – via an accelerated bookbuild.

It sold the stock at a price of 19.75 rand per share, a 9% discount to Pepkor’s closing value on Monday. It retains a 50.1% stake in the company. ($1 = 14.1620 rand) (Reporting by Emma Rumney, Editing by Louise Heavens)

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