Pepco’s largest shareholder sold 38 million shares

Pepco’s largest shareholder Steinhoff International Holdings sold 38 million shares in the company at PLN 38.95 per share, Bloomberg reported. After the deal announcement, Pepco’s share price declined by 1.1% to PLN 41.4, recording the largest decrease among WIG20 companies.

Bloomberg said the offering was increased from an initial size of about 34.5 million shares due to investor demand. After the closing of the offering, Steinhoff will indirectly hold 415.6 million common shares, representing about 72.3% of the company's share capital.