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Tuesday | October 20 | 2020

Polish e-commerce giant Allegro to be listed on Warsaw Stock Exchange

Polish e-commerce giant Allegro will be listed Monday, October 12, on the Warsaw Stock Exchange at an estimated value of 9.4 billion euros.

The company, owned by London-based investment funds Cinven, Permira and Mid Europe plans to raise about one billion zlotys (220 million euros) to repay its debts.

Founded in 1999, as a local version of the eBay auction site, Allegro has seen remarkable growth, with sales up 19% in 2018, 31,1% in 2019 and 51.8% during the first six months of this year.

Also, net profit reached 289.7 million zlotys (65 million euros) in the first half, compared to 195.7 million zlotys in the same period last year.

The company has a medium-sized warehouse and intends to open a larger one, as well as four smaller ones, but over 90% of the products sold never go through the warehouses and go directly from the seller to the buyer.

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