April 11, 2018 / 3:44 PM / 15 days ago

BRIEF-Steinhoff Launches Placing Of Up To 200 Mln Shares In Steinhoff Africa Retail

April 11 (Reuters) - Steinhoff International:

* LAUNCH OF PLACING OF UP TO 200 MILLION SHARES IN STEINHOFF AFRICA RETAIL LIMITED

* BUILD OF UP TO 200 MILLION ORDINARY SHARES IN STEINHOFF AFRICA RETAIL LIMITED

* SUBSEQUENT OF SUCCESSFUL SELL-DOWN OF INTEREST IN KAP, TO DISPOSE OF UP TO 6% IN STAR IN ORDER TO SETTLE REMAINING SOUTH AFRICAN DEBT

* BOOK WILL OPEN WITH IMMEDIATE EFFECT AND IS EXPECTED TO CLOSE AS SOON AS POSSIBLE

* PLACING WILL BE CARRIED OUT BY INVESTEC BANK LIMITED

* IN LINE WITH STEINHOFF’S INTENTION TO RETAIN REMAINING INTEREST IN STAR, STEINHOFF HAS AGREED TO A 90-DAY LOCK-UP PERIOD Source text for Eikon: Further company coverage:

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