Poundstretcher eyeing stock market float, according to City sources: Discount shopping chain understood to have hired advisers to look at listing
Poundstretcher is eyeing a stock market float, according to City sources.
The discount shopping chain is understood to have hired advisers to look at listing in London after sales boomed during Covid. In February, the group, which was set up in 1981, said it planned to open another 50 stores across the UK this year.
It had around 350 branches at the start of the year after opening 30 in 2021.
Float: The discount shopping chain is understood to have hired advisers to look at listing in London after sales boomed during Covid
In January 2021, owner and boss Aziz Tayub was reportedly looking at a sale of the business after a successful restructuring.
It is not yet clear if Poundstretcher would float on the main market of the London Stock Exchange or its junior market, AIM.
There has been a dearth of floats this year – though several companies have said they were looking at leaving the LSE and switching their listing to New York.
Poundstretcher declined to comment.
