1. News
May 7, 2021

Steinhoff to list Pepco in Poland

South African retail company Steinhoff has announced that it will launch its pan-European discount variety retailer Pepco on the Warsaw Stock Exchange.

The initial public offering (IPO) will include up to 101,343,568 existing Pepco shares, which represents up to 17.5% of Pepco’s total issued share capital.

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Walmart: Going Beyond Company Disclosures

Walmart has rounded out its fiscal year with a strong set of numbers that show it has taken supply chain disruption, rising costs, heavy inflation, and various other problems in its stride. There is comfortable growth on both the top and bottom lines, which is extremely respectable given tough prior year comparatives. Walmart hiring is slowing down as compared to hiring in the months of April and March in 2022. Walmart posted close to 40,000 vacancies in March and 30,000 in April, which has gone below 10,000 in June 2022. Walmart Company Filings has most of the mentions related to the ESG and COVID-19 themes in 2021. ESG has more than 300 mentions in the company’s 2021 filings which indicates the rising focus on ESG-related issues. Our report on Walmart: Going Beyond Company Disclosures, demonstrates GlobalData Explorer’s ability to:  
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The amount of offered shares may increase via an over-allotment option to sell an additional 15,407,767 shares.

The price range will be from €8.35 to €10.11, which implies an equity value of Pepco of €4.8bn to €5.8bn.

Steinhoff currently holds almost 98.8% of the shares put up for offer. The company is seeking to raise funds to repay debt.

The final offer price will be revealed on 14 May, with trading in Warsaw to begin on 26 May.

Pepco Group operates a network of more than 3,200 stores across 16 countries serving more than 50 million customers a month. It owns the Pepco and Dealz brands in Europe and the UK-based Poundland brand.

Pepco Group CEO Andy Bond said: “We operate in the highly attractive discount retail sector and remain confident about the significant growth opportunity we see for each of our much-loved retail brands.

“The group has a clear strategy to increase the number of Pepco and Dealz stores across the breadth of Europe by more than 8,000 over the longer term.

“We continue to invest in the business, which enables us to constantly improve our leading customer proposition, deliver the lowest prices to customers in each market and expand our infrastructure.

“To further enhance our profitability, we also have a clear focus on costs and delivering additional efficiencies as we grow.

“We have a proven track record of delivering growth and look forward to presenting our compelling investment case to both institutional investors, as well as retail investors in Poland.”

In December 2017, Steinhoff was at the centre of an accounting scandal.

An investigation by PwC revealed irregular or fake transactions recorded by the company between 2009 and 2017.

The incident saw the company’s share price decrease by more than half and its then-CEO Markus Jooste resign.

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Walmart: Going Beyond Company Disclosures

Walmart has rounded out its fiscal year with a strong set of numbers that show it has taken supply chain disruption, rising costs, heavy inflation, and various other problems in its stride. There is comfortable growth on both the top and bottom lines, which is extremely respectable given tough prior year comparatives. Walmart hiring is slowing down as compared to hiring in the months of April and March in 2022. Walmart posted close to 40,000 vacancies in March and 30,000 in April, which has gone below 10,000 in June 2022. Walmart Company Filings has most of the mentions related to the ESG and COVID-19 themes in 2021. ESG has more than 300 mentions in the company’s 2021 filings which indicates the rising focus on ESG-related issues. Our report on Walmart: Going Beyond Company Disclosures, demonstrates GlobalData Explorer’s ability to:  
  • Track and monitor a company’s movements through alternative indicators to gain insights into the strategy before it is disclosed by the company
  • Gain insight into a company’s capital deployment strategy, by assessing historical deal volumes and specific transactions executed by the company, in addition to identifying sectors of focus
  • Go beyond basic financial information, to access key industry-relevant indicators for a company and how these have progressed over time
Don’t miss out on key market insights that can help optimize your next investment – read the report now.
by GlobalData
Enter your details here to receive your free Report.