Poundland eyes £800m IPO

Discount retailer Poundland is reportedly considering an £800m flotation on the London Stock Exchange next year.

The company, which was launched in 1990, is 76% owned by US private equity group Warburg Pincus, which bought a share for £200m in June 2010. The firm is now said to be worth around £800m. Poundland has grown strongly during the recession as consumers seek out bargains in the firm's 488 stores. Pre-tax profits for 2012 were £23.1m, including sales of £880m. According to a report by the Telegraph, the firm has brought in investment bank Rothschild to work on the flotation, alongside several other advisers. The firm plans to double the number of its stores to 1,000 and opened 69 d...