Global law firm White & Case LLP has acted as exclusive counsel on the sale by Luxembourg-registered XX ZW Investment Group S.A., the majority shareholder in XTB S.A. (XTB), on the sale of a portion of its shares in XTB through an accelerated book-building process.
The transaction is valued at more than PLN 733 million and involved the sale of more than 9.4 million shares at PLN 78 per share, representing eight percent of XTB's total share capital. Following the completion of the sale, XX ZW Investment Group remains a strategic investor, holding a 35.78 percent stake in XTB.
The shares were offered exclusively to selected qualified investors in Poland and outside the US pursuant to Regulation S under the US Securities Act of 1933, as amended, and in the US to qualified institutional buyers, as defined under Rule 144A of the US Securities Act of 1933, as amended.
Santander Bank Polska S.A. - Santander Biuro Maklerskie, BANCO SANTANDER S.A. and UBS AG London Branch acted as Global Coordinators and Joint Bookrunners for the transaction.
Warsaw Stock Exchange-listed XTB is one of the world's leading brokers of foreign exchange and contract for difference derivatives, providing individual investors with access to global financial markets.
The White & Case team that advised on the transaction included partners Rafał Kamiński (Warsaw), Melissa Butler and Inigo Esteve (both London), local partners Monika Dużyńska (Warsaw) and Ruslana Hrischeva (Luxembourg), counsel Doron Loewinger (London) and associates Dawid Książek (Warsaw), Maxim Arrazola de Oñate (Brussels & Luxembourg) and George Davie (London).
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