Warburg Pincus Sells Bigger-Than-Expected Stake In Poundland

Alliance News
  • February 11th, 10:47
  • Last Updated: October 16th, 08:10

**Warburg Pincus Sells Bigger-Than-Expected Stake In Poundland**

LONDON (Alliance News) – US private equity firm Warburg Pincus LLC on Wednesday sold a larger-than-expected stake in FTSE 250-listed retailer Poundland Group PLC, sending shares in the company lower.

Poundland shares were down 5.4% to 394.20 pence on Wednesday morning, one of the worst performers in the FTSE 250, after Warburg, its largest shareholder, sold 35 million shares in the company, nearly half its existing stake. It had planned to sell 25 million shares, but upped the placing following strong demand.
Warburg sold the shares for 405 pence, raising GBP142 million. The private equity house now owns 41 million shares in the high-street discount chain, or around 16.4% of its issued share capital.
JPMorgan Cazenove and Credit Suisse Securities were the joint bookrunners on the placing.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
Copyright 2015 Alliance News Limited. All Rights Reserved.

Terms of Use

About the author

Leave a Reply

Investing is speculative. When investing your capital is at risk. This site is not intended for use in jurisdictions in which the trading or investments described are prohibited and should only be used by such persons and in such ways as are legally permitted. Your investment may not qualify for investor protection in your country or state of residence, so please conduct your own due diligence. This website is free for you to use but we may receive commission from the companies we feature on this site. Click here for more information.