Jakub Zablocki Sells 9.4 Million XTB Shares, Retains Largest Stake

Jakub Zablocki sells 9.4M XTB shares for $194M, cutting his stake to 35.78%, but remains the company’s largest shareholder.

Key Points:

• Jakub Zablocki sold 9.4 million XTB shares—approximately 8% of the company—for PLN 733.6 million ($194 million), reducing his stake to 35.78% while remaining the largest shareholder.
• His remaining shares are now under a 180-day lock-up, as XTB continues to grow, recently becoming Poland’s largest brokerage by number of accounts.

Jakub Zablocki, co-founder of Polish online brokerage XTB, has sold 9.4 million shares in the company, representing around 8% of its total issued shares, in a transaction valued at PLN 733.6 million (approximately $194 million). The shares were offloaded at PLN 78 each, marking a 7.7% discount to XTB’s Monday closing price.

The sale, disclosed in recent regulatory filings, was executed through XX ZW Investment Group, the holding vehicle Zablocki uses for his XTB stake. Following the transaction, his ownership has decreased from 43.78% to 35.78%, though he remains XTB’s largest shareholder.

Jakub Zablocki Sells 9.4 Million XTB Shares, Retains Largest Stake

Despite trimming his stake, Zablocki has reaffirmed his long-term commitment to the company. “The shareholder’s intention is to remain a strategic investor in the company and to continue to support the company in its dynamic development,” XTB said in a statement translated from Polish.

Zablocki served as XTB’s Chief Executive Officer until early 2017 and remained on the board until October 2024. He currently acts as an Advisor to the Board.

The latest divestiture continues a two-year trend of share reductions by Zablocki. In May 2023, he sold shares worth $64.5 million. Two additional transactions in 2024 followed: $119.4 million in February and $135 million in September. His remaining shares are now under a 180-day lock-up period, prohibiting further sales until late 2025.

Meanwhile, XTB continues to strengthen its market position. The company has not only broadened its geographic footprint and product lineup but has also surpassed BM mBank to become the largest brokerage in Poland by number of accounts.

XTB added 25,400 new accounts in April 2025 alone, bringing its total in Poland to 491,700.

The recent share sale by Zablocki underscores a shift in personal investment strategy while leaving intact his significant influence over XTB’s future direction.

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