SNG: South Africa: Ibex sells 28% stake in Pepkor Holdings

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Staff Writer

Ibex Investment Holdings, formerly known as Steinhoff International Holdings, will exit its 28% stake in clothing retailer, Pepkor Holdings.
The company will offer one billion shares, worth about R28bn, according to the terms of the deal published Monday, 21 July 2025.

Demand for the shares exceeded the stock being offered within minutes of the transaction launching, the terms show.

Steinhoff changed its name to Ibex Investment Holdings in 2023. It holds the Pepkor stake through its wholly-owned unit Ainsley.

The company has been restructuring since Steinhoff, the former owner of Conforama in France and Mattress Firm in the US, collapsed after auditors refused to sign off on its financial statements in late 2017.

That led to the start of police and regulatory investigations in both Europe and South Africa.

A forensic probe by auditor PwC uncovered approximately €6.5bn ($7.6bn) of irregular transactions with eight firms over eight years.

Pepkor, which owns almost 6,000 stores selling low-cost clothing, is tapping a pan-African boom in the use of phones for payment and banking services as well as for communication.

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