Steinhoff prices Pepco shares at 40 zlotys in Warsaw listing

South African conglomerate Steinhoff said on Friday it had set the price of shares in discount retailer Pepco at 40 zlotys (8.8 euros) in its Warsaw listing, giving the company a market capitalisation of 23 billion zlotys.

The pricing is towards the lower end of the 38 zloty to 46 zloty-per-share indicative price range.

Pepco, which owns Poundland in the United Kingdom as well as the PEPCO and Dealz brands in Europe, trades from more than 3,200 stores across 16 countries and is led by CEO Andy Bond, a former boss of British supermarket group Asda.