InPost skyrockets with €2.8 billion IPO

Shares in automated parcel locker provider InPost SA skyrocketed in Amsterdam trading yesterday after the company raised €2.8 billion in Europe's biggest Initial Public Offering (IPO) since 2018.

The company has benefitted from the online shopping boom during the COVID-19 pandemic, with locker firms and Click and Collect services profiting from the drive towards socially distanced delivery and collection solutions.

Stockholders in the Polish company including Advent International, Templeton Strategic Emerging Markets Fund and PZU Fundusz sold 175 million existing shares at 16 euros each.

The IPO of the 35 per cent stake values InPost at 8 billion euros, while shares jumped 26 per cent to 20.22 euros each.

The IPO is largest on a European exchange since Knorr-Bremse AG, the German truck and train brake maker, raised 4.5 billion in October 2018 according to data released by Bloomberg.

InPost has openly discussed plans to expand beyond Poland to the UK and other European companies, and chose Amsterdam for its IPO due to the city's burgeoning technology investor scene.

InPost joins fellow stay-home order company MoonPig Group PLC in going public this week.

The virtual greeting-card company outlined plans for an IPO last week, will see them see them float at least 25% of its share capital at a valuation of around £1.2bn on the London Stock Exchange (LSE).

The company said BlackRock and Dragoneer funds have agreed to subscribe to around £130m offer shares.

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