Shares in Polish convenience store group Żabka rose as much as 9% following their stock market debut in Warsaw on Thursday (17 October).
The company priced its initial public offering at 21.50 zlotys per share, valuing the offer at 6.45 billion zlotys (€1.5 billion). By 09:02 GMT its shares were up 3.3% at 22.10 zlotys, having earlier risen as high as 23.44 zlotys.
After Thursday's opening on the Warsaw Stock Exchange, Żabka Group's market capitalisation rose to 23 billion zlotys (€5.3 billion).
Its IPO is Warsaw's biggest since online marketplace Allegro's flotation raised 9.2 billion zlotys (€2.13 billion) in 2020.
Private equity fund CVC Capital Partners will remain the company's biggest shareholder after the IPO, with around a 40% stake.
Established in 1998, Żabka is one of Poland's most recognisable brands with more than 10,500 stores operating under a franchise model.
Żabka IPO
Its IPO is the fourth largest offering in Europe so far this year, behind those of Spanish beauty group Puig, Swiss skin care group Galderma and Żabka's main shareholder CVC Capital Partners.
Last week, Żabka priced its initial public offering (IPO) in Warsaw at 21.50 zlotys per share, at the top of the previously given range, valuing the group at 21.5 billion zlotys (€5 billion).
The company said its shareholders would offer 300 million shares in the IPO, bringing the total value of the offering to 6.45 billion zlotys (€1.5 billion).
Elsewhere, Spanish frozen bakery producer Europastry canceled its market debut due to market instability. 'The company and the selling shareholders have decided to cancel the offer due to the international geopolitical situation, which is causing profound instability in the markets,' it said in a filing to CNMV, the Spanish stock market regulator.
