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Poundland owner debuts on Warsaw Stock Exchange

It revealed approximately 92 million shares were sold in the offer

Poundland owner the Pepco Group has made its debut on the Warsaw Stock Exchange with an implied initial market capitalisation of PLN 23bn (£4.4bn).

The group, which also owns the Pepco and Dealz brands, shares are identified by the ticker symbol PCO. Including the over-allotment option, it revealed approximately 92 million shares were sold in the offer, including a 2.5 million share allocation to retail investors.

A further 23 million existing shares were sold to certain lenders under the debt facilities entered into by the group’s majority shareholder.

In total, the free float when the company commences trading will be 20.1%.

Goldman Sachs Bank Europe SE and J.P. Morgan A.G. acted as joint global coordinators and joint bookrunners for the offering.

Andy Bond, CEO of Pepco Group, said: “The first day of our shares trading on the Warsaw Stock Exchange is a big moment for Pepco Group.I am very proud of our colleagues across the business and want to thank them for their dedication and hard work over the years.

“We have seen strong engagement from institutional and retail investors throughout the IPO process, and welcome all our new shareholders. As a listed company, we look forward to continuing our strong store growth and delivering our successful strategy as Europe’s pre-eminent discount variety retailer.”

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