Pepco likely to be priced at R150 a share

THE MARKET debut of discount retailer Pepco is likely to be priced at least at 40 zlotys (R150) per share, bookrunners said yesterday, meaning shareholders may sell stock worth about 3.7 billion zlotys in what may be Poland’s biggest initial public offering this year.

Although the expected pricing is towards the lower end of the 38 zloty to 46 zloty-per-share indicative price range, the fact that South African conglomerate Steinhoff chose Warsaw over London to list Pepco came as a boost to the Polish stock exchange.

The Polish bourse was passed over by parcel delivery company InPost, which chose to list in Amsterdam in January.