Polish brokerage XTB has successfully placed 16,433,709 shares on the Warsaw Stock Exchange. The company has been valued at $349 million at the market open, as a single share of the company traded at 11.55 PLN (Polish zloty). Currently the shares of online FX brokerage XTBs are still up over 3 per cent in early afternoon trading after the company debuted its shares for public trading for the first time this Friday and at an opening price of 11.55 PLN per share ($2.97 per share).
Already over a million shares have been traded according to volume data published from the exchange for XTRADEBDM – which stands for the company’s name X-TRADE Brokers Dom Maklerski S.A. The company’s ticker symbol is ideally listed as XTB which certainly helps its branding.
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The total number of shares of XTB included 100,949,926 series A shares with the identifier PLXTRDM00011 used at the National Depository for Securities, and another 16,433,709 series A shares, coded as PLXTRDM00029, which have been offered to the public.
Finance Magnates reported in April that the company was planning to list early May with an expected valuation of $400 million, and the goal of becoming listed has now been achieved. Meanwhile, in a previous post the company’s initial public offering (IPO) was estimated to be as much as $618 million by book runners.
From the total number of series A shares announced in the WSE press release, which is just over 117 million shares, at the session high of 12.04 – the current valuation totals to about 1.4 billion PLN or nearly $362 million using today’s exchange rate.