The accelerated bookbuild transaction represented approximately 13.6% of Pepkor’s issued share capital

Davis Polk advised the joint global coordinators on an unregistered offering of 500 million shares of Pepkor Holdings Limited by Ainsley Holdings (PTY) Limited, an indirect wholly owned subsidiary of Ibex Investment Holdings Limited (formerly Steinhoff Investment Holdings Limited), representing approximately 13.6% of Pepkor’s issued share capital. The offering raised gross proceeds of ZAR 9 billion.

Pepkor Holdings Limited, which is listed on the Johannesburg Stock Exchange, operates a portfolio of retail chains with the largest retail store footprint in Southern Africa, with over 5,900 stores operating across nine African countries and in Brazil, and approximately 50,000 employees.

The Davis Polk corporate team included partners Dan Hirschovits and Reuven B. Young and associates William Urukalo and Daniel Lindars. All members of the Davis Polk team are based in the London office.

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