STS sets IPO price range ahead of planned float on Warsaw Stock Exchange
The STS Group the largest bookmaker in Poland operating on the basis of proprietary technology, announces that it has published a prospectus and is launching an initial public offering.
The Maximum Offer Price has been set at PLN 26 per share.
As part of the Offering, investors will be able to acquire up to 46 874 998 existing shares in total. The book-building process among Institutional Investors will take place on November 24 – December 2, 2021. Retail Investors may subscribe for shares from November 25 – December 1, 2021.
The group is the largest bookmaker in Poland in terms of turnover1, which also operates on an international scale thanks to licenses in Great Britain and Estonia, from where it offers services on several markets. 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. According to H2 GC data, by 2025 the value of the mutual betting sector in Poland expressed in GGR1 will increase to PLN 3.99 billion, while at the end of 2020 it was PLN 1.88 billion – says Mateusz Juroszek, CEO of STS Holding .
After the first three quarters of this year, we have already achieved a higher EBITDA result than in the entire 2020 or 2019. The results demonstrate our unique competitive advantages in this market. Thanks to our know-how and specialist knowledge, we not only generate a strong increase in the value of the concluded plants, but also in profitability. In addition, we constantly invest in the development of technology and the implementation of our “mobile-first” strategy.
We constantly strengthen our position by focusing on our proprietary and modern technology. 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 – adds Mateusz Juroszek.