LONDON Feb 28 British discount retailer
Poundland has set its share offer price range at 250-300 pence,
giving an implied market capitalisation of 625-750 million
pounds ($1.04-$1.25 billion) when its lists on the London Stock
Exchange, according to an industry source.
The over 500 store Poundland chain, which sells items for 1
pound, said last month its share offer would comprise a partial
sale to institutional investors of the holdings of majority
owner Warburg Pincus, a private equity firm, and senior
Poundland will not be issuing any new shares to investors in
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.