PE-backed InPost plans Amsterdam IPO – Reuters

Advent International Corp.-backed Polish parcel locker business InPost SA intends to go public in Amsterdam and plans to debut on the Euronext by February, Reuters reported.

Advent was preparing for the company's IPO in December 2020 that could value the business at between €7 billion and €8 billion.

The proposed listing of the business, which has seen a boom during the coronavirus pandemic, will aid in its international expansion, mainly focusing on Britain and Italy in 2021 and France and Spain in 2021 or 2022, InPost CEO Rafal Brzoska told the news outlet.

The company did not disclose the size of the floatation, although it is only offering existing shares and does not expect to raise money from capital markets for now. It also does not expect to pay dividends in the near future, InPost CFO Adam Aleksandrowicz told Reuters.

InPost received commitments to buy shares from BlackRock, Capital World Investors and GIC amounting to €1.03 billion, according to the report.

Citigroup, Goldman Sachs and J.P. Morgan are serving as joint global coordinators, while ABN AMRO, Barclays, BNP Paribas and Jefferies are acting as joint bookrunners for the offering.