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Pepco debut on stock exchange set for May 26
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Pepco shares are expected to start trading on the Warsaw Stock Exchange on May 26.
By James Davey, Reuters
14 May 2021 08:21
Image: Simon Dawson/Bloomberg
Steinhoff on Friday priced shares in Poundland owner Pepco at 40 zlotys (8.8 euros) for its Warsaw stock market listing, valuing the discount retailer at around 23 billion zlotys (5 billion euros).
The price tag is towards the lower end of a 38 zloty to 46 zloty per share indicative price range, but at 40 zloty the offer was more than five times subscribed, a person with knowledge of the situation said.
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LONDON (Reuters) -Steinhoff on Friday priced shares in Poundland owner Pepco at 40 zlotys (8.8 euros) for its Warsaw stock market listing, valuing the discount retailer at around 23 billion zlotys (5 billion euros).
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The price tag is towards the lower end of a 38 zloty to 46 zloty per share indicative price range, but at 40 zloty the offer was more than five times subscribed, a person with knowledge of the situation said.
The initial public offering (IPO) is Poland’s biggest this year and gives a boost to Warsaw’s stock market which has had an uptick in listings, but was passed over by parcel delivery company InPost, which opted to list in Amsterdam in January.