On October 17, 2024, the Żabka Group made its debut on the primary market of the Warsaw Stock Exchange. The opening share price on the day of the debut was PLN 23, which was 6.98% higher than the price from the initial public offering. The debut on the Warsaw Stock Exchange is the culmination of the company’s public offering, which was worth PLN 6.45 billion. This is the largest public offering in Poland since 2020, one of the largest in the history of the Warsaw Stock Exchange, and the fourth-largest offering in Europe this year.
Tomasz Suchański, CEO of the Żabka Group, said: “The Żabka Group’s debut on the Warsaw Stock Exchange is an important step in implementing our long-term development strategy. We plan, among other things, to double our sales to end customers by 2028 and to open about 1,000 stores annually in Poland and Romania. The huge interest in our public offering from renowned Polish and international financial institutions, as well as individual investors, we see as a sign of market confidence. This is motivation for us to continue working intensively to maintain stable and profitable growth and to create value for our shareholders, customers, and franchisees.”
Krzysztof Krawczyk, Chairman of the Board of Directors of the Żabka Group and Partner at CVC Capital Partners, added: “We are proud that our long-term cooperation with the Żabka Group has resulted in one of the largest stock market debuts in the history of the Warsaw Stock Exchange. We appreciate the consistency in strategy implementation and commitment to company development shown both by the management staff and employees of the Żabka Group. I would also like to thank the remaining shareholders, Partners Group and EBOR, for their support for the development and successes of the Żabka Group.”
Key Information About the Żabka Group’s Public Offering:
– The offer included the sale of 300,000,000 existing shares (excluding the Additional Allocation Shares). Based on the final share price in the offer (PLN 21.50, the maximum price within the price range), the offer was worth PLN 6.45 billion.
– In addition, the offer includes up to 45,000,000 Additional Allocation Shares. In the case of full exercise of the additional allocation option, the value of the offer will increase to PLN 7.42 billion.
– The selling shareholders decided to allocate 5% of the final number of shares sold to retail investors (4.4% including Additional Allocation Shares).
– The reduction rate in the retail investors’ tranche was 90.45%.
– The offer consisted of a public offer on the territory of Poland, including a retail offer and an institutional offer in Poland, according to Regulation S issued under the US Securities Act; an offer in the United States for persons who are believed to be qualified institutional buyers, according to the definition and based on Rule 144A, or another exemption from the registration requirement under the US Securities Act or in a transaction exempt from such registration; and an offer to specific other institutional investors outside the United States and Poland, according to Regulation S issued under the US Securities Act.
– Goldman Sachs Bank Europe SE and J.P. Morgan SE acted as Global Coordinators and Co-Bookrunners, while PKO Bank Polski Brokerage Office played the role of Offering Agent and Co-Bookrunner. Firms like Banco Santander, Pekao Securities Brokerage, BNP PARIBAS, CVC Capital Markets, Morgan Stanley, Pekao Investment Banking also held the role of Co-Bookrunners. ING, mBank, and Trigon acted as Joint Bookrunners.
– The Consorcjum Detalicznego in Poland, whose members accepted subscriptions from retail investors, included: PKO BP – Brokerage Office (acting in the role of Offering Agent and Co-Bookrunner), as well as brokerage offices of Alior Bank, BNP Bank Polska, Bank Handlowy, Millenium Bank, ING Bank Śląski, mBank, Pekao, BOS, BDM, Ipopema Securities, Noble Securities, Santander, Trigon.
– The law firms GREENBERG TRAURIG Nowakowska-Zimoch Wysokiński sp.k., Freshfields Bruckhaus Deringer LLP and Elvinger Hoss Prussen société anonyme played the role of legal advisors to the Company and the major selling shareholder, while Baker McKenzie Krzyżowski and Partners sp. k. and Allen Overy Shearman Sterling LLP acted as legal advisors to the Joint Bookrunners.
– PwC Polska acted as advisor to the Company and OC&C Strategy Consultants prepared the market and industry reports needed for the prospectus.
Source: https://managerplus.pl/grupa-zabka-zadebiutowala-na-gpw-92413
