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:
Poundland IPO to go ahead in March
February 18, 2014 By Leave a Comment
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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