Parcel-Locker Firm InPost Soars After $3.4 Billion Dutch IPO
- IPO prices at 16 euros a share, top end of the initial range
- Sale of 35% stake values Polish company at 8 billion euros
InPost is continuing a rollout of its automated machines in the U.K., while also evaluating expanding into markets such France, Spain and Italy.
Photographer: Karol Serewis/Gallo Images Poland/Getty Images
InPost SA soared in Amsterdam trading after its shareholders raised 2.8 billion euros ($3.4 billion) in Europe’s biggest initial public offering since 2018 amid an online shopping boom that’s driving up demand for the Polish company’s automated parcel lockers.
Stockholders including Advent International, Templeton Strategic Emerging Markets Fund and PZU Fundusz sold 175 million existing shares at 16 euros each, the top end of an initial range, the company said. The IPO of the 35% stake values InPost, which didn’t raise any money in the offering, at 8 billion euros. InPost jumped 26% to 20.22 euros at 10:08 a.m. in Amsterdam.