LONDON Feb 18 British discount retailer
Poundland plans to list its shares on the London Stock Exchange
in March, joining a surge of store groups seeking flotations as
the outlook for consumer spending improves.
The over 500 store Poundland, which sell items for 1 pound
($1.67), said the offer will comprise a partial sale to
institutional investors of the holdings of majority owner
Warburg Pincus and senior management.
Poundland will not be issuing any new shares to investors in
Two people familiar with the matter told Reuters in November
Poundland would seek a valuation of 700-800 million pounds
Warburg Pincus owns 76 percent of Poundland, with the
balance owned by the retailer's management, led by Chief
Executive Jim McCarthy, a 30-year veteran of the retail sector.