Polish ecommerce platform Allegro prepares country's largest IPO

Monday 14 September 2020 15:04 CET | News

Poland-based ecommerce platform Allegro has planned to list on the Warsaw Stock Exchange in what could become the central European country’s largest initial public offering.


Advisers to Allegro, which is owned by private equity groups Permira, Cinven and Mid Europa Partners, are targeting a valuation of between EUR 10 billion and EUR 12 billion, according to people close to the deal, cited by Financial Times. If this is reached, Allegro would become Poland’s biggest listed company.

The listing is set to include a sale of new shares worth around EUR 225 million, as well as a “secondary component” in which the private equity groups and some company directors and managers will sell down some of their existing stakes.

The exact size of the offering has yet to be determined, but people close to the deal said that the listing would probably be 20-25% of the company. Poland’s biggest IPO to date came in 2010, when insurer PZU raised EUR 2.1 billion.

The flotation is expected to take place in October 2020 and, if successful, would be a shot in the arm for Warsaw’s stock exchange, which is dominated by state-controlled companies and has struggled to attract listings in recent years.

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Keywords: Allegro, ecommerce platform, IPO, Warsaw Stock Exchange, Poland, Europe, Central Europe, PZU, stock exchange listing, Stock Exchange, online commerce
Categories: Payments & Commerce
Countries: Poland
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