Allegro broke the bank, record debut of an e-commerce giant

Wpis dostępny jest także w języku: polski

The value of the Allegro public offering was over PLN 9bn. The largest Polish trading platform and e-commerce giant debuted on the Warsaw Stock Exchange on 12 October.

The final price per share for both individual and institutional investors was set at PLN 43. The great interest in the offer is evidenced by the fact that the reduction rate for individual investors was nearly 85%. On the first day of trading, the price of the Allegro share rose by as much as 62.8%, to PLN 70. This means that the value of the offer was PLN 9,182 million.

Allegro has become the largest company on the WSE

The capitalisation of the company was also record-breaking. At the time of its debut, it amounted to PLN 44bn, and after the end of the first session it rose to PLN 72bn. Now it is already PLN 80bn. This means that Allegro has become the largest company on the WSE, with a value twice as high as the previous leader, CD Projekt, and almost 3.5 times higher than PZU or Dino.

The company’s net profit from the IPO was PLN 900.5m, after deducting the costs and expenses related to the IPO. This will be used to refinance the company’s debt in order to achieve better net leverage. In Allegro’s opinion, this will allow for greater financial flexibility. The amount remaining after the refinancing will be allocated to the Group’s overall corporate objectives.

On Thursday, 15 October, as a result of an extraordinary adjustment, Allegro will also enter the WIG20, where it will replace mBank.