Enterprise Investors to float Dino Polska in Warsaw

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Poland-based buyout firm Enterprise Investors will float supermarket chain Dino Polska on the Warsaw Stock Exchange, the GP said in an intention to float.

Polish Enterprise Fund VI will offer no more than 48,040,000 shares in the IPO, equivalent to the fund's 49% stake in the company. If the GP retains shares following the listing, they will be subject to a 180-day lock-up.

Dino does not intend to complete a capital increase or raise additional capital as part of the flotation. The company's founder, Tomasz Biernacki, will retain a 51% stake in Dino post-IPO, subject to a 720-day lock-up period.

PKO BP Securities, UBS Investment Bank and Wood & Company will be the joint global coordinators and joint bookrunners for Dino's IPO on Warsaw's main market.

Enterprise Investors tapped its Polish Enterprise Fund VI in June 2010 to acquire a 49% stake in Dino Polska as part of a €50m investment. During the GP's investment period, Dino has grown its outlet count from 111 to 628, with plans to have more than 1,200 stores by the end of 2020. It employs 10,600 people.

The company posted revenues of PLN 3.37bn in 2016, up 30% from the year before, which itself had grown by 22.8%. EBITDA adjusted for one-off items was PLN 288m in 2016, up from PLN 210m in 2015.