Sponsored by

Poundland set for IPO

  • Print
  • Comment

Discount store Poundland has announced its intention to float on the London Stock Exchange.

The £1 store’s shares will be offered to institutional investors but that the firm has not said how much it hopes to raise from the sale.

The group is currently 76 per cent owned by US private equity firm Warburg Pincus whilst remaining shares are held by senior management.

The firm’s revenues grew to £880.5m in 2013, up from £641.5m in 2011.

In an LSE announcement, Poundland chief executive Jim McCarthy said: “The value retail sector has been through a period of profound change in scale, customer perception and financial performance.”

  • Print
  • Comment

Daily Email Updates

If you enjoyed this article, sign up to receive the latest breaking news and analysis for your industry from Mortgage Strategy.

The Money Marketing CPD Centre

Our free service includes a CPD template tailored for mortgage advisers. Log and plan your annual CPD today with The Money Marketing CPD Centre.



Have your say Edit my profile/screen name

You must sign in to make a comment

Poll

Is the PRA right to be concerned that the average length of mortgage terms is increasing?



Job of the week

Latest jobs

View all jobs