STS plots IPO move on Warsaw Stock Exchange
Polish bookmaker seeks to go public following submission of prospectus to Polish Financial Supervision Authority
Polish operator STS has filed a prospectus with the Polish Financial Supervision Authority (PFSA) ahead of a potential initial public offering (IPO).
The company and its shareholders are considering listing on the Warsaw Stock Exchange (WSE) but have yet to make a final decision regarding the strategy.
STS said it would release further information outlining the next steps of the process following the potential approval of its prospectus by the PFSA.
Currently, 100% of STS shares are owned by the Juroszków family.
If STS successfully completes its IPO, it will become the only gambling company to be listed on the WSE.
STS said that as the largest bookmaker in Poland, and after having expanded its operations internationally into both Estonia and the UK, it made strategic sense to launch an IPO.
Mateusz Juroszek, STS CEO, said: “We decided to submit a prospectus to the Polish Financial Supervision Authority because we believe that a group such as STS, with an excellent market position, high recognition and a strong management team, will be attractive to Polish and foreign investors.
“Even more so because the Warsaw Stock Exchange does not have in its portfolio an issuer from the sector. The final decision on the debut on the WSE will be made after approval of the prospectus and analysis of other factors,” he added.