On Thursday, Żabka Group made its debut on the Stock Exchange. This is the sixth debutant this year, including companies moving from NewConnect. The network's public offering is the fourth largest in history.
The Żabka Group share price increased on Thursday at the opening of the first day of trading on the Warsaw Stock Exchange by 6.98%, to PLN 23.
The chain debuted as the 4th largest IPO in the history of the Polish capital market.
The group's public offering includes the sale of 300 million existing shares (excluding over-allotment shares). The sale price of the shares was set at PLN 21.5, at the maximum level of the price range. Based on the final price of shares in the offer, the value of the offer was PLN 6.45 billion.
Additionally, the offer covered up to 45 million shares of additional allocation. If the additional allocation option is fully exercised, the value of the offer will increase to PLN 7.42 billion. The final offering price is the same for individual and institutional investors.
Żabka among the top debuts
In 2024, offers called “jumbo IPO” or “mega IPO” will reappear in Europe, i.e. those whose value exceeds one billion euros or one billion dollars. One of them is the IPO of Żabka, which, based on the final price of shares in the offer, will amount to PLN 6.45 billion.
PwC expert Bartosz Margol points out that Żabka may open the door to other debuts, including those announced in the media for some time. – However, I would be far from saying that there will suddenly be an outpouring of new issuers. Rather, these will be single, and I hope large, transactions, because such large transactions greatly build the market, he said.
Żabka on the WSE
Book-building for institutional investors took place from October 1 to October 9, and subscriptions for retail investors took place from October 2 to October 9.
The shares were offered by the selling shareholders. There is no issue of new shares.
Żabka is a chain of convenience stores. It includes Poland's leading convenience retail chain with over 10,500 stores operating on the basis of franchise. It is complemented by a network of unattended autonomous stores under the Żabka Nano brand.
The group also has a digital offer, which includes the Maczfit brand and the Dietly Platform. The group operates online grocery shopping through the Jush! brands. and Delia. Moreover, Żabka Group has recently started operating on the Romanian market by acquiring DRIM.
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