By Edward Devlin2021-05-06T07:26:00+01:00
Pepco CEO Andy Bond
South African conglomerate Steinhoff is set to raise up to 4.6bn zlotys ($1bn) when it lists its Pepco chain of discount retailers in Warsaw this month in the latest in a series of asset sales (The Financial Times £).
The former boss of Asda will make up to £9.2m selling shares in the upcoming Warsaw stock market listing of Pepco, the owner of Poundland (The Times £). Andy Bond, who has run the business since 2015, is selling just over a million shares in Pepco, which told investors yesterday it plans to price shares at 38 zlotys (£7.10) to 46 zlotys (£8.60), valuing it at up to £5bn.
Poundland IPO: Everything you need to know about Poundland
City Index April 30, 2021 2:31 PM
Pepco, the owners of low-cost retail chain Poundland, are set to go public on the Warsaw Stock Exchange. Take a look at the important information ahead of the IPO as the European retailers seek a £3.9 billion valuation of their company. Share:
What is Poundland and where do they operate?
Poundland was established in 1990 as a type of variety store selling wide ranging fast-moving consumer goods (FMCG) in the UK for £1. Over the past thirty years, Poundland has consistently evolved its business model and range of products to gain an advantage offer competitors in the market and is now firmly established as a staple of the UK high street.
Steinhoff to proceed with Pepco IPO ahead of Warsaw listing
By Sandile Mchunu
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DURBAN - STEINHOFF International leapt more than 3 percent on the JSE on Monday morning after the retailer said it planned to proceed with the initial public offering (IPO) of Pepco Group.
The group said the move, which would result in its listing on the Warsaw Stock Exchange, came after it received necessary consents from its financial creditors to sell at least 15 percent of shares in Pepco Group for nearly R13 billion.
Pepco said it believed that the offering and admission was a natural step at this point in its growth and maturity, giving it access to a wider range of capital-raising options which may be of use in the future.
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LONDON (Reuters) -South African conglomerate Steinhoff will list shares in its Pepco Group discount retailer business in Warsaw rather than London, in what could become Poland’s biggest initial public offering (IPO) this year.
FILE PHOTO: Signage is seen outside a branch of Poundland in Altrincham, Britain January 7 2020. REUTERS/Phil Noble/File Photo
Earlier this month, Reuters cited sources saying that Pepco, which owns Poundland in the United Kingdom as well as the PEPCO and Dealz brands in Europe, was valued at around 5 billion euros ($6 billion). nL8N2M94HQ]
Pepco trades from more than 3,200 stores across 16 countries and is led by Andy Bond, a former chief executive of Britain’s Asda supermarket chain. In Poland, it trades from more than 1,000 stores.
Poundland owner Pepco shuns London to float in Warsaw
The discount retailer is eyeing expansion opportunities
Poundland owner Pepco this morning announced its intention to go public in Poland, in a blow for London’s financial market.
Pepco said it intends to apply for listing and admission to the Warsaw Stock Exchange, and said it had chosen Poland as it is the firm’s largest operating area.
The discount retailer, which has more than 3,200 stores across 16 countries, said it had identified 8,000 new store opportunities over the next 20 years.
Pepco chief executive Andy Bond said: “Today’s announcement of our intention to float on the Warsaw Stock Exchange marks an important milestone for the Group.