STS launches on Warsaw Stock Exchange

The Polish sports betting operator has launched its IPO.

Poland.- The sports betting operator STS Group has placed 46,874,998 shares on the Warsaw Stock Exchange in its initial public offering.

The shares, accounting for 30 per cent of the group’s entire share capital, were placed at a price of PLN23.00 (€4.99) per share, representing PLN1.1bn in total.

The IPO values the company at PLN3.6bn (€779.4m). STS chief executive Mateusz Juroszek remains the company’s largest shareholder, with him and his family still holding 70 per cent of the group’s shares.

While STS mainly focuses on its native Polish market, it also has licensed operations in Great Britain and Estonia. 

Juroszek said: “The first day of listing of STS Holding shares on the WSE is the culmination of many months of hard work of our entire team, together with our partners who supported us through this process.

“We welcome our diversified group of global investors and believe that we will jointly develop the group so that we not only continue to grow dynamically in Poland, but also increase further the scale of operations and brand recognition in international markets.

“We are delighted to have achieved our strategic goal of an IPO on the WSE and the strong investor demand we saw through the IPO demonstrated the quality of our business. Now we are focused on further increasing the value of the company for all shareholders. 

“Our unique business model and highly developed strategy will continue to strengthen our position as a leader in the sports betting industry.”

In September, a report from H2 Gambling Capital commissioned by Polish lottery operator Totalizator Sportowy found that the growth of regulated gambling in Poland is helping to reduce the market share taken by unlicensed operators following amendments to the country’s Gambling Act.

See also:Polish authorities issue warning over illegal slots