Steinhoff said the shares were placed at a price of R19.75 per share, a 9 percent discount to the pre-launch closing share price of ordinary shares of no par value in Pepkor at market close on Monday. "Steinhoff continues to view Pepkor as a strategic investment for the group, but will conclude the placing in line with the objective of facilitating the implementation of the proposal," said Steinhoff. The sale of the shares comes days after Steinhoff received overwhelming support for the settlement from shareholders from both South Africa and the Netherlands last week.