Cinven plans $11 billion IPO of Polish marketplace Allegro

By Lauren Fruncillo June 24, 2020 - 7:58 pm

Reports suggest that Cinven are planning an IPO of online auction site Allegro in what could be one of the biggest share sales in the EU this year.

It has been reported that asset management and financial advisory service Lazard Ltd. will be responsible for preparations on the listing and are expected to value Allegro at 10 billion euros which is hoped to cause a much needed boost in the European IPO market.

Consumer demand has been growing rapidly around the world since lockdown and Poland has also benefited from this, as evident from the growth of online marketplace Allegro. The huge IPO will be attractive to investors and the success of auction marketplaces will likely stick around for the inevitable future since online accessibility to products is incredibly important to consumers right now.

Rising demand and a boost in ecommerce thanks to the Coronavirus has allowed consumers to truly value online shopping whilst showing how much we really rely on the digital world. Before the virus, people would appreciate the ability to buy and sell online but never truly appreciate that it could aid the survival of people and businesses in times of crisis.

Reports suggest that any deal could overtake insurance company PZU SA’s biggest ever listing in Poland which raised 2.1 billion euros in 2010. It’s not surprising when we consider how the timing of this listing could bring more attention to it and the recent rise in products being listed and the number of sellers enrolling onto the online marketplace. Over 15,000 new sellers have set up shop on Allegro in recent weeks and with uncertainty on if and when the next wave of the virus will hit, online marketplaces are still providing a safe, virus-free zone for buyers and sellers that retail just can’t match up to right now.

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Allegro is the leading e-marketplace in the Poland, accounting for nearly 60% of the local online shopping industry.

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