The market debut of discount retailer Pepco is likely to be priced at least at 40 zlotys (R150) per share, bookrunners said on Wednesday, meaning shareholders may sell stock worth around 3.7 billion zlotys in what may be Poland’s biggest IPO of 2021. Picture: Karen Sandison/African News Agency(ANA)
The market debut of discount retailer Pepco is likely to be priced at least at 40 zlotys (R150) per share, bookrunners said on Wednesday, meaning shareholders may sell stock worth around 3.7 billion zlotys in what may be Poland’s biggest IPO of 2021. Picture: Karen Sandison/African News Agency(ANA)

Pepco likely to be priced at R150 a share, say bookmakers

By Reuters Time of article published May 13, 2021

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JOHANNESBURG - THE MARKET debut of discount retailer Pepco is likely to be priced at least at 40 zlotys (R150) per share, bookrunners said on Wednesday, meaning shareholders may sell stock worth around 3.7 billion zlotys in what may be Poland’s biggest IPO of 2021.

While the expected pricing is towards the lower end of the 38 zloty to 46 zloty-per-share indicative price range, the fact that South African conglomerate Steinhoff chose Warsaw over London to list Pepco came as a boost to the Polish stock exchange.

The Polish bourse was passed over by parcel delivery company InPost, which chose to list in Amsterdam in January.

Bookrunners said that the final offer size meant that 18 percent of the company, or 92 446 602 shares would be sold.

Books close on Thursday, and have been oversubscribed on the maximum deal size, the bookrunners said.

Pepco trades from more than 3 200 stores across 16 countries.

REUTERS

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