London-based private equity group Bridgepoint is considering an Initial Public Offering (IPO) of Smyk in Warsaw, a children’s apparel and toy store chain, three market sources said.
Bridgepoint bought Smyk in 2016 from Poland’s Empik Media & Fashion (EM&F) for 1.06 billion zlotys ($293.17 million), including debt. The first Smyk store opened in Warsaw in 1952. Now the chain has 125 stores in Poland.
“Bridgepoint is considering Smyk IPO,” one person told Reuters. Two other sources confirmed the information.
Bridgepoint picked up UBS and JP Morgan as the global bookrunners for the deal, two sources said, adding it could materialise at the end of the year, depending on market conditions.
Bridgepoint declined to comment.
Warsaw Stock Exchange has seen a decline in new listings in recent years, in part because low interest rates have allowed companies to raise money cheaply without the regulatory obligations that come with a stock market listing.