STS Group confirms share price for Warsaw IPO

STS will offer a total of 46,874,998 shares, including 42,613,636 sale shares and 4,261,362 over-allotment shares, accounting for 30% of the entire share capital in the business. 

This, STS said, implies an offering size of approximately PLN1.1bn, with the overall business valued at PLN3.6bn. However, the offer price is slightly lower than the PZN26 per share initially proposed last month. 

Allotment of the offer shares is scheduled to take place tomorrow (8 December), while the expected first day of trading of the admitted shares on the regulated market of Poland’s Warsaw Stock Exchange (WSE) is scheduled for 10 December.

Following the offering, STS, its selling shareholders and two members of the management board will be subject to a lock-up agreement in respect to their shares. This will remain in effect for 360 days following the listing date.

STS chief executive and key shareholder Mateusz Juroszek, together with his family, will retain a 70% holding in the business 

“STS is a strong brand that the entire team has been building and developing for the three decades,” Juroszek said. “We believe that due to our competitive advantages the Group will continue outperforming the market and will be able to reach an increasing number of new customers. 

“The upcoming debut of shares on the WSE marks an important stage of our development. We look forward to welcoming into our shareholding register a diverse set of IPO investors from Poland, Europe and globally to participate alongside us in the future growth of the business as we execute on our strategy.”

STS is primarily focused on its native Polish market but is also active elsewhere through its licences in Great Britain and Estonia.