Pepco successfully debuts on WSE
21:41
As much as 12.5 percent you could earn on the Pepco Group shares on the first day of listing on the Warsaw Stock Exchange. At the close of the day, the company's shares were trading at PLN 45 per share, while the starting price was PLN 40.
Pepco Group is a well-known owner of a European discount chain of multi-branch stores in Poland and at the same time the largest debut on the WSE in many months.
In the public offering, investors bought almost 92.5 million shares for almost PLN 3.7 billion. Initially, the securities were sold for PLN 40 a share, which means that investors assessed Pepco's value at PLN 23 billion. This places the company in the second ten largest stock exchange players.
"The choice of Warsaw as the place of our stock exchange debut seemed natural from the beginning. Pepco has been present in the Polish market for over a decade, achieving great successes. The local stock exchange is characterized by dynamism and stability, guaranteeing investors a sense of security," Andy Bond, president of Pepco Group, said.
Bond emphasized that the group's current strategy focuses on growing the company in the post-pandemic period when customers return to brick-and-mortar stores.
"Our target groups are primarily families and consumers with below-average incomes looking for clothing, home furnishings, or fast-moving products at competitive prices. We estimate the average value of a shopping cart at PLN 70-80. Therefore, we focus more on encouraging customers to visit one of over a thousand of our stores throughout Poland," the president of Pepco added.
