Poundland owner Pepco valued at £5bn ahead of Polish IPO

Poundland & Dealz owner Pepco Group sees a 12% rise in its quarterly total revenue, driven by new store openings
"We remain committed to our existing full year profit guidance,” - Andy Bond.
// Pepco Group, which owns Poundland and Dealz, is listing on the Warsaw Stock Exchange
// Poundland owner Pepco Group has been valued between £4.1bn and £5bn
// The offering is directed to retail investors and institutional investors in Poland

Poundland owner Pepco Group has been valued between €4.8 billion (£4.1 billion) and €5.8 billion (£5 billion), as it launches an IPO.

Pepco Group, which owns Poundland and Dealz, announced last week that it plans to list on the Warsaw Stock Exchange market (WSE).

The offering, which is directed to retail investors and institutional investors in Poland, is comprised of up to 102,718,447 existing shares, representing around 17.9 per cent of the company’s total issued share capital at admission.

READ MORE: Poundland owner Pepco confirms plans for Polish stock market listing

Purchase orders from retail investors will be accepted at the maximum price from May 6 to 13.

The final offer price and number of offer shares will be determined around May 14.

Pepco chief executive Andy Bond opened Pep&Co’s first clothing shop in Kettering in 2015, and opened another 49, around one a day, until the end of August in towns across the UK.

Pepco Group trades from more than 818 Poundland stores in the UK, and has over 3200 stores across 16 countries.

In Poland alone, there are more than 1000 Pepco stores, alongside a presence of Dealz stores.

“The publication of our prospectus today marks a further important step towards Pepco Group listing on the Warsaw Stock Exchange,” Bond said.

“We operate in the highly attractive discount retail sector and remain confident about the significant growth opportunity we see for each of our much-loved retail brands.

“The group has a clear strategy to increase the number of Pepco and Dealz stores across the breadth of Europe by more than 8000 over the longer-term.

“We continue to invest in the business, which enables us to constantly improve our leading customer proposition, deliver the lowest prices to customers in each market and expand our infrastructure.

“To further enhance our profitability, we also have a clear focus on costs and delivering additional efficiencies as we grow.

“The fact that we serve more than 50 million customers a month is testament to the strength of our retail brands, which are supported by our world-class low-cost sourcing operation, Pepco Group Sourcing.

“Our recently expanded board will ensure strong governance and bring significant corporate experience gained in developed and emerging markets, as well as exposure to government policy, regulation and wider public affairs.

“We have a proven track record of delivering growth and look forward to presenting our compelling investment case to both institutional investors, as well as retail investors in Poland.”

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