Poundland has reportedly lined up banks Credit Suisse and JP Morgan to help advise on a potential public listing, which is expected to value the retailer at as much as £800m.
The appointments are expected to be confirmed in the next few days, Sky News has reported. An IPO is expected in the first half of next year.
Retail Week revealed on Monday Poundland drafted in Philip Dorgan, who worked as a retail analyst for more than a decade and most recently with Panmure Gordon, to help the value specialist assess options, including an IPO.
At the weekend it emerged that the single price-point specialist had appointed investment bank Rothschild to assist with a stock market listing. It is thought that the retailer may be valued at as much as £800m.
Poundland is majority-owned by private equity giant Warburg Pincus, which bought it for £200m three years ago. Last year Poundland’s profits jumped 29% to £23.1m. Sales rose 15% to £880m.
Poundland declined to comment.
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