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Poundland sets IPO price

Poundland has set the price of its shares at 300p each ahead of its stock market flotation to give the company a market capitalisation of £750 million.

GENERAL MERCHANDISE

Poundland sets IPO price

The retailer, which will see its shares begin trading at 8am this morning, said the initial public offering of 125,000,000 shares is expected to raise £375 million.

Following the offer, private equity firm Warburg Pincus will see its stake in the company reduce to 37.9%, or to 30.4% if an over-allotment is exercised. Poundland directors and members of senior management will own 10.2% of the company.

Jim McCarthy, chief executive of Poundland Group, said: "I’m very pleased to welcome our new shareholders to Poundland. The combination of a track record of delivering strong, profitable growth underpinned by a well-invested infrastructure and a compelling growth story has attracted overwhelming support for Poundland’s IPO. We look forward to continuing to deliver, as a listed company, Poundland’s mission to provide our customers with amazing value every day."

 

 

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