Online Broker XTB Valued at $618m Ahead of IPO

Polish-based X-Trade Brokers (XTB) has announced its intention to hold a public offering of shares in the second quarter of 2016 and an introduction to trading on the Warsaw Stock Exchange.

Finance Magnates first learned about the company’s intention to seek an IPO in an interview with Jakub Maly, XTB’s CEO, in June last year.

The planned offer will include a 14 percent stake of existing shares sold by XXZW Investment Group, a company directly controlled by one of the founding members of XTB, and will involve a public offering to retail and institutional investors in Poland and a private placement to institutional investors abroad.

Bookrunners have valued XTB at 1.8-2.3 billion zlotys ($484-$618.4 million), pegging its pending initial public offer in Warsaw at up to 330 million zlotys. The valuation marks it as the biggest IPO in Warsaw since May last year.

I trade. I love it. XTB’s current TV ad featuring actor, Mads Mikelsen.

JP Morgan and UniCredit's Pekao Investment Banking are the leading bookrunners in the offer, assisted locally by Ipopema Securities.

XTB was founded in Poland in 2002 and offers Online Trading Online Trading Online trading represents the trading of fiat currencies, digital currencies, commodities, stocks and indices, where traders and investors intend to make a profit, via the purchase or sale of the aforementioned products. This is done through an electronic network, made accessible by brokers in the form of an online trading platform or hub.Online trading continues to see a rapid growth year on year, due to a number of reasons. Firstly, the number of brokers offering their services, with more mone Online trading represents the trading of fiat currencies, digital currencies, commodities, stocks and indices, where traders and investors intend to make a profit, via the purchase or sale of the aforementioned products. This is done through an electronic network, made accessible by brokers in the form of an online trading platform or hub.Online trading continues to see a rapid growth year on year, due to a number of reasons. Firstly, the number of brokers offering their services, with more mone Read this Term in financial derivatives on the Forex Forex Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Read this Term, equity or commodities markets. The British arm of the group, XTB Limited, is authorised and regulated in the UK by the Financial Conduct Authority (FCA). Operating income for XTB in 2015 amounted to 282.5 million zlotys (38.2 per cent year on year) and net profit was 119 million zlotys (54.3 per cent year-on-year, net profit margin of 42.1 percent).