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High Street

Poundland owner eyes £4bn IPO

The group’s management team and shareholders alike have reportedly snubbed London for the the listing

Pepco Group, the owner of Poundland and Dealz, is reportedly set to pursue a £3.9bn initial public offering (IPO) on the Polish market in the coming months.

According to Sky News, the group’s management team and shareholders alike have snubbed London in favour of Warsaw due to the firm’s large Polish presence.

The firm, which is run by former Asda chief executive Andy Bond, had planned to go public in 2020 with a dual listing in London and Warsaw as a possibility.

The floatation was then reiterated by Pepco Group’s South African-based owner, Steinhoff International Holdings, in January of this year.

Moreover, a private equity buyout of the company reportedly remains possible, as firms such as Advent International have expressed interest in the discount retailer group.

Pepco Group, which also trades under the Pepco brand, operates across over 3,000 stores in 15 European markets.

In its recent financial results, the firm reported revenues of more than £3bn for FY20, and predicted “long-term” post-pandemic growth.

Bond said: “We anticipate that the consumer backdrop will remain challenging in the short-term. 

“However, with our strong financial base and established growth strategy within a structurally advantaged discount retail segment, we remain confident about our long-term prospects for continued growth across Europe.”

Retail Sector has contacted Pepco Group for further comment.

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