LONDON - The British retailers Pets at Home and Poundland had mixed results on their first day of trading on the London Stock Exchange on Wednesday.
Poundland, a discount retailer that sells everything for one pound or less, rose 20 percent, to 360.25 pence, in early trading, while Pets at Home was down slightly, at 235 pence.
The companies are part of a flurry of public offerings announced in recent months as private equity firms look to cash in on their investments in a favorable trading environment.
Pets at Home, a pet supply retailer that was acquired by the private equity firm Kohlberg Kravis Roberts in 2010, priced its initial public offering at 245 pence, giving it a market capitalization of £1.23 billion, or about $2 billion.
The company raised £280 million in the offering, which will be used to reduce its debt. K.K.R. remains its largest shareholder.
“Pets at Home has enjoyed strong growth for over a decade and we are now ready to move on to the next stage of our development as a listed business,†Nick Wood, the Pets at Home chief executive, said in a statement.
The company was founded in 1991 and operates 369 stores in Britain, as well as 246 small animal veterinary surgeries through a joint venture. It also operates 116 in-store grooming centers. It employs more than 6,000 people.
Pets at Home had revenue of £598.3 million in the 12 months through March 28, 2013.
Poundland priced its offering at 300 pence, giving it a market capitalization of £750 million. The company raised £375 million in its I.P.O. The private equity firm Warburg Pincus remains largest shareholder.
Poundland, which opened its first outlet in 1990, operates more than 500 stores in Britain and Ireland. The company posted revenue of £758.3 million in the 39 weeks that ended Dec. 29.
“We look forward to continuing to deliver, as a listed company, Poundland’s mission to provide our customers with amazing value every day,†Jim McCarthy, the Poundland chief executive, said in a statement.
