Retailer Steinhoff is planning to proceed with the initial public offering of its pan-European subsidiary the Pepco Group on the Warsaw Stock Exchange.
Pepco has 3 200 stores across 16 European countries and includes retail brands such as PEPCO, Poundland, and Dealz. It views its core shopper as a "mum on a budget".
It is a separate company from the similarly named Pepkor Holdings, which houses Steinhoff's African assets.
"Our proposed listing in Warsaw – home to our PEPCO brand since 2004 and the largest operating territory in the Group, is a natural step, and I look forward to delivering further on our successful growth strategy," said Pepco's CEO Andy Bond.
As part of the IPO, Steinhoff is aiming to sell 15% of the shares it holds in the group.