Poundland announces stock market flotation

Discount retailer Poundland has announced plans to float on the stock market next month, a move that is expected to value the company at £750m.

The business says 22% of its shoppers now come from the wealthiest section of the population Credit: Rui Vieira/PA Wire

The chain opened its first store in Burton-on-Trent in 1990, and now has nearly 500 outlets across the UK. It also operates more than 30 stores under the Dealz brand in Ireland.

Last month, Poundland revealed it served more than seven million shoppers in the peak Christmas trading week and saw a record performance in the five weeks to January 5.