Żabka Group made a historic entry on the Warsaw Stock Exchange (GPW) on October 17th, launching the fourth-largest initial public offering (IPO) in the exchange’s history. The listing saw 300 million shares valued at 6.45 billion PLN ($1.47 billion), representing one of the most significant capital market transactions in Poland since Allegro’s IPO in 2020. The debut also stood out as Europe’s largest in recent months, drawing substantial investor interest.
Strong Demand and Strategic Listing Bolster Żabka’s IPO Success
The IPO included an option for an additional 45 million shares, potentially increasing the total value to 7.42 billion PLN ($1.7 billion). With a valuation of 21.5 billion PLN ($4.9 billion), Żabka’s offering saw strong demand from retail investors, who secured 5% of the final allocation. High demand led to a 90% reduction in shares available to this group, underscoring the retail giant’s market appeal.
Tomasz Bardziłowski, GPW’s CEO, described the debut as a transformative moment for the exchange, expressing hope that it would attract more individual investors to the Polish stock market. Żabka’s decision to list in Warsaw, after initially considering Amsterdam, also reinforced the GPW’s growing prominence as a regional financial hub.
Żabka’s Growth Strategy: Expansion, Digital Innovation, and ESG Commitment
Żabka, Poland’s largest convenience store chain with over 10,500 locations, is expanding its operations beyond traditional retail to include digital services, autonomous stores, and online grocery sales through brands like Maczfit, Dietly, Jush!, and Delio. The company recently entered the Romanian market by acquiring DRIM, aiming to further broaden its footprint.
Looking ahead, Żabka plans to open 1,100 new stores in Poland in 2024, targeting a total of 14,500 locations by 2028. CEO Tomasz Suchański highlighted the company’s commitment to sustainable growth and environmental, social, and governance (ESG) practices, setting ambitious goals to double sales by 2028 while maintaining a focus on social and environmental responsibility.