Poundland’s Pep&Co valued at £5 billion ahead of WSE listingwritten by Bella Palmer
The offering is comprised of up to 102,718,447 existing shares, representing nearly 17.9 per cent of the company’s total issued share capital at admission
Poundland’s clothing brand Pep&Co has been valued between €4.8 billion (£4.1 billion) and €5.8 billion (£5 billion), as it launches an initial public offering (IPO).
Pepco Group, which owns Poundland and Dealz, announced last week that it plans to list on the Warsaw Stock Exchange market (WSE).
The offering, which is directed to retail investors and institutional investors in Poland, is comprised of up to 102,718,447 existing shares, representing around 17.9 per cent of the company’s total issued share capital at admission.
Purchase orders from retail investors will be accepted at the maximum price from May 6 to 13.
The final offer price and number of offer shares will be determined around May 14.
Poundland chief executive Andy Bond opened Pep&Co’s first clothing shop in Kettering in 2015, and opened another 49, around one a day, until the end of August in towns across the UK.
Pepco Group trades from more than 450 Poundland stores in the UK, and has more than 3200 stores across 16 countries.
In Poland alone, there are over 1000 Pepco stores, alongside Dealz stores.
The publication of our prospectus today marks a further important step towards Pepco Group listing on the Warsaw Stock Exchange, Bond said.
We operate in the highly attractive discount retail sector and remain confident about the significant growth opportunity we see for each of our much-loved retail brands. The group has a clear strategy to increase the number of Pepco and Dealz stores across the breadth of Europe by more than 8000 over the longer-term, he said.
Bond said: The fact that we serve more than 50 million customers a month is testament to the strength of our retail brands, which are supported by our world-class low-cost sourcing operation, Pepco Group Sourcing.
Our recently expanded board will ensure strong governance and bring significant corporate experience gained in developed and emerging markets, as well as exposure to government policy, regulation and wider public affairs, he said.
Bond said: We have a proven track record of delivering growth and look forward to presenting our compelling investment case to both institutional investors, as well as retail investors in Poland.
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