Comprehensive M&A data with integrated detailed company information

Allegro ‘to unveil IPO plans next week’
Posted on Friday, 11 September 2020 11:38
Polish ecommerce platform Allegro is set to announce plans for its initial public offering (IPO) in Warsaw next week, according to market sources.

In comments reported by Reuters, the people said the firm has submitted its listing prospectus in Luxembourg and will soon formally announce its intention to float.

They added that the quotation is slated to take place in mid-October.

Allegro has yet to make any official statement on the matter.

The IPO was first reported in July of this year, when Bloomberg cited people familiar with the situation as saying that the firm’s private equity owners were planning to list the business.

Those sources, who wished to remain anonymous as the matter is private, noted that Cinven, Permira and Mid Europa Partners had appointed Goldman Sachs and Morgan Stanley to advise on the process.

Reuters’ most recent report on the matter said the investors hope to raise between USD 2.30 billion and USD 3.00 billion from the deal, with the news provider saying it is likely to be the largest IPO in Warsaw since 2007.

Appetite for IPOs declined globally in the first half of 2020, most probably due to the fallout from the Covid-19 pandemic and the associated uncertainty, which affected many industries.

In all, there were 916 listings worth an aggregate USD 98.98 billion announced worldwide over the six months, compared to H2 2019’s 1,015 at USD 117.78 billion and H1 2019’s 1,255 at USD 117.03 billion, according to Zephyr, the M&A database published by Bureau van Dijk.

Allegro was founded in 1999 and now claims to be the largest online trading platform in Poland.

The firm now has more than 21.00 million registered customers and employs 2,000 people at locations in Poznan, Warsaw, Torun, Wroclaw and Kraków.

© Zephus Ltd