Standard Bank acted as Joint Bookrunner for Steinhoff Africa Retail Limited (STAR) and successfully recorded the largest ever IPO on the JSE to date, raising ZAR15.4 billion (US$1.2 billion).
Standard Bank’s unparalleled understanding of the South African consumer industry coupled with a leading global equity platform and a top-ranked analyst for the sector meant the Bank was well-equipped to support the client through the IPO process end-to-end.
STAR owns the Steinhoff Africa Retail assets and will remain a subsidiary of Steinhoff International. Its listing creates a diversified listed retail company of size and scale with its roots firmly entrenched in Africa.
Listed under the Broadline Retailers sub sector on the main board of the JSE, STAR is a retailer servicing the value-conscious consumer across various broad lines such as apparel, footwear, household goods, furniture, appliances, consumer electronics and building materials while also providing financial and mobile services. Some of the well-known brands within the STAR group include Pep and Pep Africa, Ackermans, Bradlows and Incredible Connection.
Our experience in sectors vital for growth and development in South Africa and beyond make us a preferred investment banking partner because we understand that commercial effectiveness will lead to successful business outcomes.
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