Poundland owner sets discount price for budget retailer’s Warsaw listing
Poundland’s owner has set a discount price for the budget retailer’s Warsaw listing, giving the company a market capitalisation of 23bn zlotys (£4.38bn).
South African conglomerate Steinhoff, the parent company of Poundland owner Pepco, set the price of shares in the firm at 40 zlotys.
The pricing is towards the lower end of the 38 zloty to 46 zloty-per-share indicative price range for Pepco’s listing.
Pepco, which owns Poundland in the UK as well as the Pepco and Dealz brands in Europe, trades from more than 3,200 stores across 16 countries and is led by chief executive Andy Bond, a former boss of Asda.
It announced last month that it intends to apply for listing and admission to the Warsaw Stock Exchange instead of floating in London.
The company said it had chosen Poland for its IPO as it is the firm’s largest operating area.