XTB successfully completes IPO at valuation of $349 million


It wasn’t exactly at the valuation they were hoping for, nor the numbers being recklessly bandied about in several Forex blogs recently, but Forex broker and platform provider XTB did successfully float its shares and begin trading today on the Warsaw Exchange.

XTB operates its own FCA-regulated XTB Online Trading retail forex brand, and also markets the XTB Open Hub brand of liquidity solutions and the XOH Trader trading platform.

Further to LeapRate’s earlier report about XTB’s (X-Trade Brokers Dom Maklerski SA) planned IPO with the Warsaw Exchange, XTB announces today that it has joined the companies listed on the Warsaw Stock Exchange (WSE).

Jakub Zablocki, XTB
Jakub Zablocki, XTB

Today, at 9:00 a.m. XTB representatives hit the stock exchange bell and symbolically started trading Company shares on the WSE: 117,383,635 XTB shares were floated on the WSE.

So how much was raised? And at what valuation?

In the initial public offering, 16,433,709 shares were sold and the sale price was set at PLN 11.5 per share, giving a total value of the public offering at around PLN 189 million ($49 million), and a total market capitalization of XTB around PLN 1.35 billion ($349 million).

We would note that all the shares in the IPO were sold by XTB controlling shareholder Jakub Zablocki. Mr. Zablocki sold about 14% of his stake in the company in the offering.

Jakub Maly, President of the Management Board of XTB, commented:

“Joining the companies listed on the WSE is a major part of our long-term business strategy. From today, our competitive strengths, such as our state-of-the-art technology and our diversified, constantly developing range of products and services, will be strengthened by one of our core values: the transparency of our business model and financials. We hope that both new and existing shareholders will follow our further growth with interest, enjoying every success that increases the Company’s value.”

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XTB successfully completes IPO at valuation of $349 million

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