Shoper, a Polish company offering services to online retailers, confirmed plan for an imminent initial public offering (IPO) in Warsaw, the company said on June 10.

E-commerce companies see Poland as a very promising market. Poland’s online retailing boomed in the wake of the COVID-19 (coronavirus) pandemic, which had millions locked at home, leading to a surge in online shopping and services. 

Last year’s IPOs of Polish e-commerce giant Allegro and the Amsterdam Euronext debut of automated parcel locker operator InPost both proved hits.

Shoper expects to offer “approximately 27.1%” of existing shares of current shareholders, including private equity fund V4C Poland Plus Fund, Modhaus, and KFF, the company said in a press release.

There will be a 360-day lockup following the IPO. The company also said it would issue no shares during that period.

mBank, PKO BP and Wood & Co are offer managers.

Shoper offers e-commerce platform solutions for online stores in the Software as a Service (SaaS) model. The company’s net profit jumped 92% y/y to PLN4.5mn in the first quarter while revenue growth came in at 71% y/y to PLN15.8mn.

The market boomed last year to reach some PLN83bn, an expansion of 36% versus 2019, a report by the consultancy PwC said earlier this year. That was 14% of Poland’s entire retail sales last year.

Poland’s e-commerce market is poised to grow 12% a year on average, reaching the value of PLN162bn (€36bn) in 2026, PwC also said.