Poundstretcher eyes stock market, according to City sources: Discount store chain allegedly hired consultants to look at listing
According to City sources, Poundstretcher is eyeing an IPO.
The discount retailer is said to have hired consultants to look at the London listing after sales boomed during Covid. In February, the group, which was founded in 1981, announced plans to open a further 50 stores in the UK this year.
It had about 350 branches at the start of the year after opening 30 in 2021.
Float: The discount retailer reportedly hired consultants to watch the London listing after sales boomed during Covid
In January 2021, owner and boss Aziz Tayub was reportedly looking to sell the company after a successful restructuring.
It is not yet clear whether Poundstretcher would float on the main market of the London Stock Exchange or on the junior market, AIM.
There has been a shortage of floats this year, although several companies have said they are considering leaving the LSE and transferring their listing to New York.
Poundstretcher declined to comment.