DESA submits a prospectus and plans a public offering

The largest entity on the rapidly growing Polish art market, DESA, filed a prospectus with the Polish Financial Supervision Authority (KNF) in connection with the IPO under consideration and the commencement of listing on the main market of the Warsaw Stock Exchange. The company will be the first representative of its sector on the Polish stock exchange.

“DESA is a unique player in the Polish art market. We are a leader in Poland and Central and Eastern Europe, not only in terms of the turnover value of our auctions but also the comprehensiveness of solutions offered to clients or the use of modern technologies. Thanks to the professionalized organizational structure and the most comprehensive team in the Polish art market, we not only constantly increase the number of auctions, but also create new trends in the industry, regularly introducing new types of auctions or conducting educational and art popularization activities. Our strategy is focused on further dynamic growth. We are favored by the very good prospects for the Polish art market – according to experts, the expected average annual growth rate (CAGR) of the art and antique market in Poland in the coming years is over 24 percent," Juliusz Windorbski, DESA CEO, said.

The main area of the Group's activity is the operation of an auction house by DESA Unicum, offering brokerage services in the sale of a wide range of works of art, antiques, and collectors 'items, as well as short- and long-term investments in works of art and collectors' items operated mainly by Keil Art.

DESA Unicum is a leader among auction houses in Poland, with a turnover share of 51.6 percent, dating back to the 1950s. Works worth over PLN 700 million have been auctioned at DESA Unicum auctions in the last five years.

(WBJ)