Jakub Zablocki Sells $148M in XTB Shares

Jakub Zablocki plans to sell $148 million worth of XTB shares, reducing his stake below 50% in a significant move within the financial trading sector.

Key Points:

• Jakub Zablocki will reduce his stake in XTB SA to 43.78% by selling 8.4 million shares.
• This marks his third major sale in 18 months, with XTB shares up 78% year-to-date.

Exclusive: Jakub Zablocki Cashing Out $148 Million in XTB Shares, Taking Stake Under 50%

In a significant move within the financial trading sector, Jakub Zablocki, co-founder and controlling shareholder of Warsaw-based Retail F.X. and CFDs broker XTB SA (WSE), is set to reduce his ownership in the company below the 50% threshold. Regulatory filings in Poland reveal Zablocki’s plans to cash in nearly $150 million worth of XTB shares, signaling a significant shift in his involvement with the firm.

Zablocki intends to offload 8.4 million XTB shares through an accelerated book-building process. Investment banks Santander and UBS will facilitate this secondary sale, acting as Global Coordinators and Joint Bookrunners. Based on XTB‘s current market price of PLN 68.20, the transaction should generate approximately PLN 572.9 million, equivalent to USD 147.7 million, before accounting for fees and expenses.

Jakub Zablocki Sells $148M in XTB Shares

Moreover, if this sale proceeds as planned, Zablocki will decrease his stake in XTB, currently held through his holding company XX ZW Investment Group S.A., from 50.9% to 43.78%. His remaining 51,472,869 shares post-sale will be subject to a 180-day lock-up period, a standard practice to prevent significant market disruptions following such transactions.

This sale is not an isolated event but part of a broader trend in Zablocki’s approach to his holdings in XTB. Over the past 18 months, he has executed two other substantial share sales. In February 2024, Zablocki sold 8.2 million shares at PLN 41 each, raising PLN 482 million (USD 119.4 million). This followed a similar transaction in May 2023, where he reduced his stake from 67% to 61% by selling shares valued at USD 64.5 million at PLN 38 per share.

XTB‘s stock has been on a notable upward trajectory in 2024, with shares appreciating by 78% year-to-date. However, the company has also experienced some volatility, with shares trading approximately 10% below their all-time high of PLN 75.88, set in May 2024. This fluctuation comes amid a challenging financial quarter for XTB, where Q2-2024 results showed a 31% decline in revenues and a 47% drop in profit.

As Zablocki continues to reduce his stake in XTB, the market will be closely monitoring the impact of these sales on the company’s future, especially given the mixed financial results and recent stock performance.

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