Wojtek Jargiło/PAP
South African conglomerate Steinhoff will sell at least 15 percent shares in its Pepco Group retailer in an IPO on the Warsaw Stock Exchange, Pepco said on Monday.
Up to 5 percent of that stake will be offered to Polish retail investors, the company added.
The Pepco Group was founded in 2015 and owns two retail chains, Pepco and Poundland, which also operates on international markets under the Dealz brand.
The group currently has more than 3,200 stores across 16 countries, including Great Britain, Ireland, Spain and Central and Eastern Europe, including Poland.
According to recent media reports, Pepco is valued at around EUR 4.5 billion.
Pepco Group said its ambition is to become Europe’s leading variety discount retailer. The group’s aim is to exceed EUR 1 billion EBITDA within five to seven years.
In the fiscal year ended September 30, 2020, Pepco reported underlying EBITDA of EUR 229 million on revenues of EUR 3.5 billion.