Poundland IPO led by Freshfields
20th February 2014
London-headquartered, international firm Freshfields Bruckhaus Deringer has won the high-profile mandate to advise retail chain Poundland on their hotly anticipated IPO. The IPO will consist of the partial selling of funds by private equity firm Warburg Pincus and a free float of 25 percent or more of the issued shared capital.
Poundland has previously been advised by Clifford Chance having been instructed by Warburg Pincus on its acquisition of Poundland in 2010. As this deal was head up by private equity head David Walker for Clifford Chance, Walker’s leaving Clifford Chance for one of Latham & Watkins’ top lawyer jobs last year is thought to have pushed Poundland to review its relationship with the firm.
Freshfields’ appointment comes following a pitch to both Poundland and Warburg Pincus. The position is a major win for Freshfields as Poundland works on a London Stock Exchange listing that could be worth approximately £700 million according to this article.