logo
Pepkor Shareholder Raises $1.5 Billion Selling Its Entire Stake

Pepkor Shareholder Raises $1.5 Billion Selling Its Entire Stake

Bloomberg4 days ago
Ibex Investment Holdings Ltd., formerly known as Steinhoff International, raised 26.6 billion rand ($1.5 billion) by selling its stake in Africa's largest clothing retailer, Pepkor Holdings Ltd.
The company sold 1.045 billion shares of Pepkor at a discount of about 6% to the last closing price, according to terms seen by Bloomberg. Goldman Sachs Group Inc., JPMorgan Chase & Co. and Investec Plc managed the share sale.
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

China's No-Exit Plan for Foreigners
China's No-Exit Plan for Foreigners

Wall Street Journal

time9 minutes ago

  • Wall Street Journal

China's No-Exit Plan for Foreigners

Chinese President Xi Jinping has been eager to lure American companies to invest in China, but you wouldn't know it from Beijing's latest actions. China is preventing American citizens, including a Commerce Department employee and a Wells Fargo banker, from leaving the country. The detentions, known as 'exit bans,' highlight the continuing risk to American companies of doing business in China. The State Department says it is working to get them released and that it has 'no higher priority than the safety and security of American citizens.' But the Chinese bans have ensnared dozens of foreigners over the years, often with little recourse.

RH Opens Second Design Gallery in Canada
RH Opens Second Design Gallery in Canada

Yahoo

time11 minutes ago

  • Yahoo

RH Opens Second Design Gallery in Canada

MILAN — RH chief executive officer Gary Friedman admitted in June that his business was 'rocked' by reciprocal tariffs, but that's not stopping him from expanding in Canada. On a mission to create the most immersive, physical experience in design, RH has opened its second design gallery in Canada and first design gallery location in the province of Quebec, the firm said Thursday. RH Montreal, The Gallery at Royalmount is located on Quebec's centrally located Chemin de la Côte-de-Liesse. The three-story structure spans more than 49,000 square feet and brings together RH Interiors, its Modern and Outdoor collections, RH's Interior design office, along with art and antiques, all under one roof. It also houses a dramatic glass encased rooftop restaurant, which opens into a landscaped garden. More from WWD Brown Thomas Supports Homegrown Talent Robyn Lynch With Exclusive Capsule Bal Harbour Shops' Roving Mini Mall on the Road Again Boots to Open Stand-alone Fragrance Store Opening the Montreal design gallery is key to Friedman's plan to expand the RH brand globally. His strategy has been focused on opening immersive, convivial spaces that engage with markets on a local level and that keep consumers coming back. During a conference call with analysts in June, he contended this local-centric strategy represents a 'multibillion-dollar opportunity.' In the second half of the year, RH will open design galleries in strategic locations. The Paris opening will take place in September during the Maison&Objet design trade show. Other locations are planned for Detroit; Manhasset in Long Island, New York; San Diegom, and Palm Desert, as well as London and Milan in 2026. Despite a challenging housing market, the worst in 50 years, RH forecasted revenue growth of 10 to 13 percent in fiscal 2025, an adjusted operating margin of 14 to 15 percent and an adjusted earnings before interest, taxes, depreciation and amortization margin of 20 to 21 percent. RH shares are still recovering from the near five-year low they hit after the 'Liberation Day' duties announced by U.S. President Donald Trump on April 2. Since then, the firm has shifted sourcing out of China and rerouted a significant portion of its upholstered furniture to its own North Carolina factory, the firm said. Tensions remain high between the U.S. and Canada. The North American nation has less than a week to reach a trade deal with Trump following his threat to impose 35 percent tariffs on Canadian exports starting Aug. 31. According to Italy's Pambianco Consulting division, RH is the second largest maker of high-end furniture, by sales, in the world. It posted $3.03 billion in sales in 2024. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data

Strategy Stock Issues $2.8?billion 9% 'Stretch' Shares
Strategy Stock Issues $2.8?billion 9% 'Stretch' Shares

Yahoo

time20 minutes ago

  • Yahoo

Strategy Stock Issues $2.8?billion 9% 'Stretch' Shares

Strategy (NASDAQ:MSTR) just priced $2.8 billion of its new 9% Stretch preferred stock at $90 a share to fund more Bitcoin (BTC-USD) purchases after strong demand upsized the deal from $500 million. Michael Saylor's firm has regularly tapped markets with shares, debt and previous prefs like Stride, which sold 2.5 million shares at $100 for $1 billion at a 10% yield in June. Warning! GuruFocus has detected 9 Warning Signs with MSTR. Stretch adds to MSTR's roughly 600,000 BTC hoard valued near $70 billion while offering flexible monthly dividends that can rise or fall to keep the stock near para tool that gives MSTR more price control but leaves investors guessing on yield. Why it matters: These creative capital raises fuel MSTR's Bitcoin buildup but hinge on appetite for variable?income securities and clear deployment plans. From the chart above, we can see that MSTR is still trading 21% behind its consensus estimates, with highs of $680, and lows of $200. This article first appeared on GuruFocus. 擷取數據時發生錯誤 登入存取你的投資組合 擷取數據時發生錯誤 擷取數據時發生錯誤 擷取數據時發生錯誤 擷取數據時發生錯誤

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store