Polish e-commerce giant Allegro files for IPO, seeks to raise €225 million at a reported $10 billion+ valuation

Allegro tech.eu
Annie Musgrove

Annie Musgrove

annelise@tech.eu

Polish ecommerce platform Allegro has filed for an IPO, with plans to raise 1 billion zlotys (€225 million) and debut on the Warsaw Stock Exchange. FT reports that advisers are targeting a valuation of between €10 billion and €12 billion.

The offering will enable the group to repay part of its outstanding debt. Other reasons for the IPO include increasing the group’s public profile and brand awareness, creating a new long-term shareholder base (including employees) as well as liquidity for its existing and future shareholders.

Additionally, the group will receive a new PLN 5.5 billion five-year senior secured term loan and a PLN 500 million (about €112.5 million) multi-currency revolving credit facility to refinance its debt.

Allegro is the largest ecommerce platform in Poland by far. The company’s GMV grew by over 25 percent in 2019 compared to 16 percent growth for the rest of the ecommerce segment in the country, according to a press release. As of this summer, the user base includes 12.3 million active buyers, 117,000 merchants, who all take part in about 32 million transactions every month.

Photo: Allegro CEO Francois Nuyts

Share this:
Share on linkedin
Share on facebook
Share on twitter

Get exclusive access to news, data and actionable insights on the European Tech innovation ecosystem(s)

By subscribing to Tech.eu, you gain instant access to curated European technology news, market intelligence and interviews with leading startup founders, investors and more. Sign up now in under a minute to deepen your knowledge on the European Tech innovation ecosystems on a daily basis.