August 27, 2014

Poundland IPO to go ahead in March

Poundland has today confirmed that its IPO will go ahead in March with reports indicating the company is to be valued at £700m. Poundland released an intention to float document on its corporate website, confirming that it will only offer shares in the IPO to institutional investors:

Jim McCarthy, CEO of Poundland, said of the IPO:
“The value retail sector has been through a period of profound change in scale, customer perception and financial performance. The sector is now a mainstream feature of the UK retail market and Poundland has been a central architect of that change. Our single price point and our amazing value are appealing to an increasingly broad section of shoppers with 22% of our UK customers now coming from the AB demographic.”

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