STS publishes prospectus ahead of IPO
Almost 47 million STS shares will be available with a maximum offer price set at PLN26 (£0.18) per share
Polish bookmaker STS has released its prospectus ahead of its IPO on the main market of the Warsaw Stock Exchange.
The maximum offer price has been set at PLN26 per share with a total of 46,874,998 existing shares available, constituting almost 30% of the share capital of the company owned by the Juroszek family.
The book-building process for institutional investors will take place between 24 November and 2 December 2021, while retail investors can subscribe for shares from 25 November and 1 December 2021.
STS, which is the largest operator in terms of turnover with almost a 50% share of the Polish market, boasts 400 retail outlets across the country. It also operates in the UK and Estonia.
The products offered by the group include sports betting, virtual sports betting, an online casino (outside of Poland), BetGames and a wide range of betting on the results of esports events.
“The Polish bookmaking market is developing dynamically, and with a 46% share in the sector, we are well prepared for further, faster than the market growth,” said Mateusz Juroszek, CEO of STS Holding.
“According to H2 GC data, by 2025 the value of the mutual betting sector in Poland expressed in GGR will increase to PLN3.99bn (£715m), while at the end of 2020 it was PLN1.88bn,” Juroszek added.
STS Holding’s chief exec further stated: “The public offer is the next stage of the group’s development, which will strengthen our position of the absolute market leader in Poland and will contribute to increasing the brand recognition in the international arena.”
Meanwhile, Mateusz Juroszek, the key shareholder and president of the management board, will remain the dominant shareholder of the company.
The prospectus states that a single subscription made by an individual investor may cover no fewer than 10 shares, but no more than 3,629,261 shares.