The selling price of 46,874,998 shares of the bookmaker STS Holding was set at PLN 23 per share, the company announced in a press release. The previously announced maximum price of STS Holding shares was PLN 26.
The value of the public offering of STS Holding will amount to almost PLN 1.08 billion, assuming that investors will buy all offered shares.
The sale price was established after the book-building process of institutional investors was completed on Thursday.
The final number of offered shares (including sold shares and additional allotment shares) will be 46,874,998. Retail investors will be allocated 1,890,000 shares, and institutional investors will receive 44,984,998 shares. New investors will have about 30 percent of the offer. the share capital of STS Holding.
During the offering, no new issue shares were sold, the IPO covered only the sale of shares belonging to the existing shareholders. MJ Investments and Juroszek Investments will sell 18,963,069 shares each, and Betplay Capital will sell 4,687,498 shares. As part of the additional allotment, 4,262,362 shares will be sold, borrowed by the stabilizing manager from MJ Investments and Juroszek Investments.
After the end of the offer, the company, the offering party and two members of the company’s management board will be covered by a lock-up agreement – it will be valid for 360 days from the date of the first listing.
Goldman Sachs Bank Europe SE and UBS Europe SE act as global coordinators and co-bookrunners, and mBank, BM PKO BP and Wood & Company Financial Services as co-bookkeepers. mBank and PKO BP also act as investment companies intermediating in the public offering of shares.
The STS Holding Group is the leader of the Polish bookmaking market with an estimated market share of around 46%. (STS own estimates based on data from the Ministry of Finance), while its largest competitor on the Polish market, ie Fortuna, has a share of around 28%. according to data at the end of 2020
STS Holding in the medium term wants to allocate 100 percent. net profit for a given financial year for dividend.
STS Holding generates the vast majority of revenues from the Polish market, but also operates on an international scale thanks to licenses in the UK and Estonia, from where it offers services on several markets. The group intends to apply for a license to organize gambling games in the Netherlands. (PAP Biznes)