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Investing.com -- Shares of InPost (AS:INPST) dropped more than 4% on Tuesday after a company backed by private equity firm Advent International offered around a 3.5% stake in the parcel locker operator to institutional investors at a discounted price, Reuters reported on Tuesday citing a bookrunner.
Advent’s affiliate, AI Prime & Cy S.C.A., launched an accelerated placement of 17.5 million InPost shares at €13.25 each, roughly 6% below the previous day’s closing price of €14.10 in Amsterdam.
This follows a similar move in September 2024, when the firm sold about 4% of its stake at €17 per share.
Once the latest share sale is completed, AI Prime is expected to retain an approximately 6.5% stake in InPost, the report said.
Advent first acquired a controlling interest in InPost in 2017 and remained its largest shareholder until partially exiting through a sale to Czech investment group PPF, which now holds a 28.75% stake, according to InPost’s website.
The Polish-based company, known for its widespread network of automated parcel lockers, has grown rapidly under Advent’s ownership, expanding both domestically and across Europe.
However, its stock has declined around 15% so far this year amid concerns that its key client, e-commerce giant Allegro (WA:ALEP), is reducing its reliance on InPost’s delivery services.