(Adds detail)
LONDON, April 26 (Reuters) - South African conglomerate
Steinhoff will proceed with an initial public offering
of its Pepco Group unit on the Warsaw Stock Exchange, it said on
Monday.
Pepco owns Poundland in the United Kingdom as well as the
PEPCO and Dealz brands. It trades from more than 3,200 stores
across 16 countries and is led by Andy Bond, a former CEO of the
Asda supermarket chain.
Steinhoff, which is still battling the fallout of a 2017
accounting scandal, said it would sell at least 15% of Pepco's
shares.
Reuters cited sources earlier this month saying that Pepco
is valued at around 5 billion euros ($6 billion), which means it
could become Poland's biggest IPO this year.
($1 = 0.8256 euros)
(Reporting by James Davey, Editing by Paul Sandle and Sarah
Young)