Warsaw Stock Exchange adopted a resolution to introduce Legimi shares to trading on the NewConnect market. This means that a pioneer on the Polish e-book market is one step away from making a debut on a small stock exchange. The debut should take place within the next few days.

“We are on the eve of our debut on NewConnect. I hope that the first trading day will be set in the days following Easter. We are very happy about this fact. This is something to be proud of because together with Mateusz Frukacz we started Legimi from scratch,” Mikołaj Małaczyński, President of the Management Board of Legimi, commented.

Legimi is one of the leaders of the Polish e-book market. The company operates in the subscription model and was the first in Poland to offer users access to the Legimi digital library in return for a subscription fee. The company offers its clients a number of facilities related to reading digital publications, including any choice of reading platform and device, the ability to switch between an e-book and an audiobook, or immediate access to an extensive library of titles. Legimi boasts the largest database of titles in the fiction category. According to the published estimated data for 2020, last year the company generated over PLN 32 million in revenues, which means an increase of 84 percent y/y. The net profit increased almost 3.5 times to nearly PLN 2.1 million, and the number of customers jumped by 73 percent to over 120,000.

“Our business is developing extremely dynamically, we are systematically increasing revenues, the number of clients, and we are consistently reducing debt. We are one of the leaders in the Polish e-book market, and we are also developing in the German market. Based on our previous issues, as well as contact and relations with investors, we can say that investors appreciate all these aspects," Mikołaj Małaczyński added.

(WBJ)