U.S. Markets open in 2 hrs 24 mins
  • S&P Futures

    3,753.25
    -3.50 (-0.09%)
     
  • Dow Futures

    30,011.00
    +29.00 (+0.10%)
     
  • Nasdaq Futures

    11,493.50
    -48.25 (-0.42%)
     
  • Russell 2000 Futures

    1,760.40
    +2.30 (+0.13%)
     
  • Crude Oil

    89.45
    +1.00 (+1.13%)
     
  • Gold

    1,717.00
    -3.80 (-0.22%)
     
  • Silver

    20.67
    +0.01 (+0.07%)
     
  • EUR/USD

    0.9801
    +0.0006 (+0.0588%)
     
  • 10-Yr Bond

    3.8260
    0.0000 (0.00%)
     
  • Vix

    30.38
    +1.83 (+6.41%)
     
  • GBP/USD

    1.1198
    +0.0030 (+0.2665%)
     
  • USD/JPY

    144.9100
    -0.1580 (-0.1089%)
     
  • BTC-USD

    19,989.38
    -162.46 (-0.81%)
     
  • CMC Crypto 200

    454.77
    -8.35 (-1.80%)
     
  • FTSE 100

    7,006.93
    +9.66 (+0.14%)
     
  • Nikkei 225

    27,116.11
    -195.19 (-0.71%)
     

UPDATE 1-Steinhoff's Mattress Firm considers options including IPO

·1 min read

(Adds context)

JOHANNESBURG, Aug 31 (Reuters) - South African retail group Steinhoff International Holdings N.V. said on Tuesday its Mattress Firm business is evaluating strategic options including a potential public listing as it considers a return of share capital to its investors.

"The evaluation process is ongoing and no definitive decision has been taken with respect to any specific course of action," Steinhoff said in a statement.

Mattress Firm, which is 50.1% owned by Steinhoff and is the leading speciality mattress retailer in the United States with more than 2,300 stores, emerged out of bankruptcy in 2018 after filing for Chapter 11 protection to gain some breathing room to restructure and shore up its finances.

Steinhoff, which has its primary listing on the Frankfurt Stock Exchange, has been restructuring the debt of some units and reducing group debt and financing costs through asset sales and public listings after revealing multi-billion euro holes in its balance sheet in 2017.

Earlier this year, it listed Poundland owner Pepco Group , receiving proceeds of 1 billion euros ($1.18 billion), most of which was used to reduce debt.

Steinhoff was also exploring a range of strategic options, including a potential public listing of its Fantastic Group, Australia's leading value-focused furniture and bedding retailer, which has been postponed until late in 2021 due to the COVID pandemic.

($1 = 0.8477 euros) (Reporting by Nqobile Dludla Editing by Promit Mukherjee and Bernadette Baum)