Warburg Pincus cuts stake in British discounter Poundland

Private equity firm Warburg Pincus [WP.UL] has reduced its stake in British discount retailer Poundland from 30.4 percent to 16.4 percent, it said on Wednesday, raising about 142 million pounds through a share placing. Warburg Pincus had said on Tuesday that it planned to sell 25 million Poundland shares. Shares in Poundland, which listed on the London Stock Market at 300 pence last March, fell by up to 6.7 percent on Wednesday. Last Friday Poundland said it had agreed a deal to buy smaller priv