The Shirt Locker

14 Jan 2021 By Dasha Afanasieva Follow @dasha_reuters

Operating storage units for online deliveries may seem a humdrum business. But Advent-backed InPost is expanding rapidly as Poles embrace internet shopping, and its lockers. A mooted 8 bln euro valuation depends on both trends continuing – and on locking out rivals like Amazon.

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Polish delivery locker company InPost said on Jan. 13 it will list on the Euronext Amsterdam Exchange. The company is majority owned by private equity investor Advent International.

The initial public offering will value InPost’s equity at between 7 billion euros and 8 billion euros, Reuters reported on Dec. 15, citing people close to the matter.

In the first three quarters of 2020, InPost’s revenue was 1.7 billion zlotys ($448 million), up from 833 million zlotys in the same period of 2019.

Funds of BlackRock, Capital World Investors and GIC have agreed to become cornerstone investors, collectively buying shares worth more than 1 billion euros.

Citigroup, Goldman Sachs and JPMorgan are coordinating the deal.

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