White & Case Advises STS Holding S.A. on Warsaw Stock Exchange IPO

Press Release
2 min read

Global law firm White & Case LLP has advised STS Holding S.A., the largest sports betting operator in Poland, on its initial public offering (IPO) on the regulated market of the Warsaw Stock Exchange, making it the only sports betting company currently listed on the Warsaw Stock Exchange.

The final price in the IPO was set at PLN 23 per share. The offering comprised 46,874,998 shares, equal to 30 percent of the company's share capital. The total value of the IPO was PLN 1.1 billion.

The shares were offered in a public offering conducted in Poland and directed to both institutional and retail investors. The offering was also addressed to qualified institutional buyers in the U.S. in compliance with Rule 144A of the U.S. Securities Act and certain other institutional investors outside the U.S. in accordance with Regulation S under the U.S. Securities Act.

Goldman Sachs Bank Europe SE and UBS Europe SE acted as Global Coordinators and Joint Bookrunners, and mBank S.A., Powszechna Kasa Oszczędności Bank Polski Spółka Akcyjna Oddział – Biuro Maklerskie w Warszawie and WOOD & Company Financial Services a.s. Spółka Akcyjna Oddział w Polsce acted as Joint Bookrunners. mBank and PKO BP served as the investment firms intermediating in the public offer of the securities.

Founded in 1997, the STS Group is the largest licensed bookmaker in Poland, which also operates on the international market. The bookmaker is licensed in the UK and Estonia from where it offers services in several foreign markets. STS Group offers betting products including sports betting, e-sports, virtual sports, bet games and online casinos in select markets.

In 2021, White & Case has advised issuers on the three biggest IPOs in the technology sector on the Warsaw Stock Exchange, including STS Holding S.A., Grupa Pracuj S.A. and Huuuge, Inc.

The White & Case team that advised on the transaction was led by partner Marcin Studniarek (Warsaw) and included partners Jill Christie and Inigo Esteve (both London), counsel Bartosz Smardzewski (Warsaw) and Doron Loewinger (London), and associates Dawid Książek and Michał Truszczyński (Warsaw).

Press contact
For more information please speak to your local media contact.