White & Case has advised STS Holding S.A. on its initial public offering on the regulated market of the Warsaw Stock Exchange. Greenberg Traurig advised the investment banks on the deal.
Goldman Sachs Bank Europe SE and UBS Europe SE were global coordinators and joint bookrunners, and mBank S.A., Powszechna Kasa Oszczednosci Bank Polski Spilka Akcyjna Oddział – Biuro Maklerskie w Warszawie, and Wood & Company Financial Services a.s. Spolka Akcyjna Oddzial w Polsce were 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.
According to White & Case, “the final price in the IPO was set at PLN 23 per share. The offering comprised 46,874,998 shares, equal to 30% of the company's share capital. The total value of the IPO was PLN 1.1 billion.”
According to the firm, “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.”
White & Case’s team included Poland-based Partner Marcin Studniarek, Counsel Bartosz Smardzewski, and Associates Dawid Ksiazek and Michal Truszczynski, and a further team in the UK.
Greenberg Traurig’s team included Poland-based Partner Pawel Piotrowski, Local Partner Maciej Kacymirow, Senior Associates Agnieszka Stopinska, Natalia Wolkowycka, Mateusz Koronkiewicz, Tomasz Denko and Anna Celejewska-Rajchert, and Associates Jakub Tarlowski, Michal Baldowski, Angelika Makar, Adam Andula and Maciej Jablonski with the assistance from teams in the UK and the US.