- 28 January 2021
- Transport / Logistics Services
Parcel locker specialists InPost have raised €2.8 billion in its initial public offering at the Amsterdam Euronext exchange, valuing the firm at €8 billion.
In the IPO, 175 million shares representing a 35% stake in InPost were sold at €16 each.
With the new capital InPost has signalled it is planning to expand its international parcel locker network into Spain, France and Italy. Currently the company operates 12,254 parcel lockers that are mostly in the UK and Poland. In 2020, boosted by the pandemic, it handled 248 million parcels across the network.
Rafał Brzoska, Inpost’s chief executive, said: “InPost is positioned at the heart of the rapidly growing e-commerce market and is primed to benefit from the flywheel effect which drives an accelerating increase in consumer and merchant adoption of our automated parcel machines.”
Though the company’s business is heavily reliant on the UK, the decision not to float on the London Stock Exchange has interested industry observers, with some suggesting InPost isn’t confident in the long range prospects for Brexit.