Buyout firm Advent International could be considering an initial public offering (IPO) of InPost, its Polish postal lock provider, according to unnamed sources quoted by Bloomberg.
Advent has named Citigroup, Goldman Sachs and J.P. Morgan Chase as global coordinators for the process, Bloomberg reported.
The listing could happen early in 2021, although that will depend on the market conditions by that time, Bloomberg reported, and more banks could be added to the deal if the IPO goes forward as planned.
InPost, according to Bloomberg, lets customers arrange for the delivery and collection of parcels through a network of lockers, with over 8,000 lockers available in Poland. Courier services are also offered.
The deal could end up valuing InPost in the billions of euros, making it one of Europe's largest recent transactions backed by private equity, Bloomberg reported. Advent's confidence has been bolstered by the response to the IPO of Allegro, which was the biggest on record for Warsaw.
The IPO for Allegro has seen the eCommerce company's stock almost double, according to Bloomberg. That, to Advent, shows the potential for eCommerce companies and those which have supported businesses in the pandemic. People being home more and shopping online more have contributed to the spike in eCommerce.
InPost, according to Bloomberg, has attracted vibrant interest from potential buyers, although no final decisions had been made as of Tuesday (Nov. 10), and there's no guarantee a sale will happen at all.
After months of the pandemic, consumers have primarily adapted their lives to be as digital as possible, PYMNTS reported. A survey from October saw around 70 percent of respondents saying they would place a high reverence on a company's ability to provide digital, touchless payment options.
In addition, consumers have placed high value on whether or not they are able to get what they want without having to step inside a physical store.
