Poundland to float on London Stock Exchange in March

Poundland has announced its intention to float on the London Stock Exchange in March.

Shares in the chain, which is 76%-owned by American private equity firm Warburg Pincus, will be offered to institutional investors.

The news comes after Poundland appointed former Carpetright and Sainsbury’s executive Darren Shapland to its board. The chain is also appointing Mondelez executive Trevor Bond, former chief executive of Travelodge Grant Hearn and Tea Colaianni of Merlin Entertainment as independent non-executive directors. 

Poundland has 500 stores in the UK and 31 stores in Ireland under the Dealz brand. The chain’s revenue increased from £641.5m in the 2011 financial year to £880.5m in 2013.

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