Poundland confirms IPO
High street discounter Poundland has finally confirmed this morning that it intends to float on the London Stock Exchange.
The offer will comprise a partial sale of funds by Warburg Pincus, Poundland’s private equity owner, and a free float of at least 25 per cent of the issued share capital.
Poundland said admission is expected to take place in March and, following that, it’ll be eligible for inclusion in the FTSE UK indices.
Credit Suisse and JP Morgan are joint global co-ordinators and book runners. Canaccord and Shore Capital are acting as co-lead managers and Rothschild as financial adviser to the firm.
The fast-growing store has been swelling its ranks in anticipation of the flotation, which’ll help it expand.
Last night, it was announced that Darren Shapland, former chief executive of Carpetright, is expected to become Poundland’s senior independent director. It’s also appointing Mondelez executive Trevor Bond, former chief executive of Travelodge Grant Hearn and Tea Colaianni of Merlin Entertainment as independent non-executive directors.