First IPO of an online media company at the Warsaw Stock Exchange
Supporting the IPO of Poland’s online media platform Wirtualna Polska Holding SA (WPH) the European Bank for Reconstruction and Development (EBRD) has acquired a minority stake in the company. Today’s listing of Wirtualna Polska was the first ever IPO of an online media company at the Warsaw Stock Exchange.
Wirtualna Polska is a rapidly growing online media platform and one of Poland’s two leading internet portals. It is focused on online advertising, the fastest-growing segment of the Polish advertising market with strong growth prospects.
The proceeds from the placement of up to 32.5 per cent of the company’s shares on the Warsaw Stock Exchange will allow it to further strengthen its position vis-à-vis its major competitors through a course of organic growth and selective acquisitions.
Dirk Werner, EBRD Director of Information and Communications Technologies, said: “The EBRD is proud to become a shareholder in Wirtualna Polska, a dynamic, innovative and growing company. It represents what is so impressive about the many new Polish companies which are springing to life. Our investment will support WPH, but also strengthen the local capital market by bringing another local company to the market.”
Since the beginning of its operations in Poland in 1991, the EBRD has invested €7.27 billion in almost 350 projects in the country. In addition to its wide product range for banks and companies, in recent years the Bank has also built a growing portfolio of investments (both equity and debt), for which demand remains high.