Breaking: Polish Brokerage XTB to List Early May, Valuation up to $400m

The company will float 14 per cent of its shares on the Warsaw Stock Exchange.

Polish international group XTB Capital has announced that it will get listed on the Warsaw Stock Exchange around the 6th of May 2016. The company, which is currently operating across Europe, is aiming its sights at an expansion into the Latin American market.

XTB Capital Group will float 14 per cent of its shares (16,433,709 shares) at a valuation of up to $400 million ($3.41 per share). The figure is about 50 per cent lower than estimates of some bookmakers that were first reported by Reuters earlier this month.

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XTB, IPO, Warsaw Stock Exchange
Key figures from XTB’s IPO prospectus, Source: XTB Group

The company’s operating income for 2015 totaled about $74 million (PLN 282.5 million), with net profits amounting to $31.2 million. Both figures represent substantial year on year growth when compared to 2014 with the numbers rising 38.2 per cent for revenues and 42.1 per cent for net profits.

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The company currently has almost 400 employees with a substantial presence in Central, Eastern and Western Europe. The firm is focusing its sales and marketing efforts on 12 key markets including Poland, Spain, the Czech Republic, Turkey, Portugal, France and Germany.

XTB Capital was founded over 10 years ago in 2004 and has since been focusing on several different markets. As of the end of 2015, 60.8 per cent of the accounts held at the brokerage were from countries within Central and Eastern Europe (Poland, Romania, the Czech Republic and Slovakia). Another 32.8 per cent of the company’s business comes from Western Europe.

The brokerage has recently opened its offices in Uruguay and is at present regulated by financial authorities in Poland, the UK, Cyprus and Turkey. Key performance metrics for 2015 also reveal a total of 125,000 accounts at the brokerage with 31,175 new accounts opened by clients throughout the year.

XTB, IPO, Warsaw Stock Exchange, XTB Capital
Key performance metrics of XTB between 2013 and 2015, Source: XTB IPO Prospectus


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