XTB to debut on WSE on May 6

Polish FX trading platform X-Trade Brokers is debuting on the main market of the Warsaw Stock Exchange on Friday, May 6, the bourse informed. On April 27, the company set the final price for its IPO at PLN 11.5 per share, which puts the value of the offer at PLN 189 million. XTB's lead shareholder XXZW Investment Group is selling 16.43 million shares, some 14 percent of the firm's capital. The shareholder will direct some 10-15 percent of the offer to retail investors. X-Trade Brokers operates on 12 markets. In 2015 the brokerage earned PLN 274.7 million on financial instruments operations. Operating revenues amounted to PLN 282.5 million. The group earned PLN 119 million, with a net margin of 42.1 percent.