Ibex Investment Holdings, formerly known as Steinhoff International, sold its entire 28% stake in clothing retailer Pepkor for $1.5bn (R26.4bn) via an accelerated book-building process.
The company offered about one billion shares worth R28bn, according to the terms of the deal published on Monday.
A bookrunner for the deal said on Tuesday the shares were priced at R25.45 per share.
Steinhoff changed its name to Ibex in 2023 as part of a restructuring prompted by its 2017 accounting fraud that led to a stream of lawsuits and hefty losses.
As part of efforts to lower its mountain of debt, Ibex had been lowering its stake in Pepkor, which owns the Pep and Ackermans clothing brands, over the past few years.
Reuters
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