XTB sets price in IPO at PLN 11.5 per share
09:38
X-Trade Brokers sets price in IPO at PLN 11.5 per share
Polish FX trading platform X-Trade Brokers set the final price in its IPO at PLN 11.5 per share, which puts the value of the offer at PLN 189 mln, the company said in an annex to issue prospectus late Tuesday, confirming earlier PAP findings.
XTB's lead shareholder XXZW Investment Group is selling 16.43 mln shares, some 14% of the firm's capital. The shareholder will direct some 10-15% of the offer to retail investors.
XTB plans to make its stock market debut around May 6. With no new shares on issue, XTB was not to receive anny proceeds from the sale.
X-Trade Brokers operates on 12 markets. In 2015 the brokerage earned gross PLN 274.7 mln on financial instruments operations. Operating revenues amounted to PLN 282.5 mln. The group earned net PLN 119 mln, with net margin of 42.1%.
