Poland-based parcel locker operator InPost will carry out an initial public offering (IPO) on Euronext Amsterdam, the company said on January 13.

The announcement confirms earlier speculation of the IPO, which could come as soon as February and value the company at €7bn-€8bn. InPost wants to capitalize on surging demand for parcel services at a time when millions of European consumers have switched to online shopping during COVID-19 (coronavirus) lockdowns.

InPost is eyeing expansion in the UK – where it already operates over 1,100 APMs – and “tap into new international markets in continental Europe,” it said in a statement. 

“The intended [IPO] will consist of a private placement of existing shares to institutional investors in various jurisdictions,” the company said. BlackRock, Capital World Investors and GIC have already offered to buy just over €1bn worth of InPost shares.

InPost is the leader in the Polish e-commerce logistics market and the preferred APM delivery company for merchants and consumers in Poland. InPost handled 249mn parcel deliveries through more than 12,200 of its Polish APMs last year.

The company’s share of the domestic B2C [business to consumer] delivery parcel volume in Poland more than doubled from 21% in 2017 to 43% last year. In effect, the company’s revenue doubled y/y to PLN1.67bn (€377mn) as of the third quarter. 

“The intention is to potentially become listed in February, if all goes well,” InPost’s CEO Rafal Brzoska told Reuters.