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UPDATE 3-Polish locker firm InPost plans Amsterdam IPO as online shopping booms

* Advent-backed firm could be valued at 7-8 bln euros

* Wants to expand in France, Italy and Spain

* Says first listing possible in February (Adds InPost CEO comments)

WARSAW, Jan 13 (Reuters) - Polish parcel locker firm InPost plans an initial public offering (IPO) in Amsterdam and aims to debut on Euronext as early as February, it said, as it seeks to expand abroad to capitalise on a surge in online shopping.

Reuters reported in December that private equity firm Advent International was preparing an Amsterdam IPO for InPost that would value its equity at 7-8 billion euros ($8.5-$9.85 billion)

The business, widely used in Poland by sellers on online commerce platform Allegro, has benefited from an online boom as the COVID-19 pandemic keeps shoppers in their homes.

“Our proposed listing on Euronext will mark the next phase of our development as we expand our business internationally and build on the strong momentum we have generated to date,” InPost chief executive Rafal Brzoska said on Wednesday.

“The intention is to potentially become listed in February, if all goes well,” he said in an interview with Reuters.

InPost chose markets based on their e-commerce and population size. It aims to focus primarily on Britain and Italy this year, Brzoska said.

InPost already operates in Poland and Britain. It is looking at expansion in France and Spain this year or next year, as well as moving into Italy, as it responds to increasing competition in Poland.

InPost declined to comment on the size of investment needed to develop the markets, but the company’s annual capex is expected to rise slightly in 2021 from 400 million to 500 million zlotys ($107.56 million to $134.45 million) in previous years, the company’s Chief Financial Officer Adam Aleksandrowicz told Reuters.

CREDIBILITY

Amsterdam is emerging as a popular post-Brexit European listing venue, hosting heavily subscribed IPOs, such as coffee-maker JDE Peet.

“Being listed on a stock exchange like this is giving additional credibility as an international company,” Brzoska said.

InPost did not say how much of the company would be for sale, although it said only existing shares would be offered and Aleksandrowicz said the company did not expect to raise money from capital markets for now.

Aleksandrowicz also said InPost did not expect to pay dividends in the near future as it is re-investing its cash into expansion.

The company has received commitments to buy shares from BlackRock, Capital World Investors and GIC totalling 1.03 billion euros, it said.

Citigroup, Goldman Sachs and J.P. Morgan are joint global coordinators for the offering, while ABN AMRO, Barclays, BNP Paribas and Jefferies are joint bookrunners.

($1 = 0.8205 euros)

$1 = 3.7189 zlotys Reporting by Alan Charlish and Agnieszka Barteczko in Warsaw, additional reporting by Bart Meijer in Amsterdam. Editing by Mark Potter and Barbara Lewis

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