Polish medical device maker HTL Strefa considers listing on Warsaw bourse

Wednesday, June 24, 2015

Polish medical device maker HTL Strefa and online broker X-Trade Brokers (XTB) are both considering listing on the Warsaw bourse with offerings worth up to 200 million euros ($224 million) each, market sources said on Tuesday.

"HTL-Strefa is more advanced and may be floated this year. XTB may land in 2016. The offers may be worth between 100 and 200 million euros each," a source with knowledge of the matter told Reuters.

The source said the companies were likely to list existing shares only.

Another source confirmed the two companies were considering listing in Warsaw.

HTL-Strefa is the world's biggest maker of lancing devices used by diabetes sufferers to check their blood sugar levels and says it controls over 46 percent of the global market.

It was listed on the Warsaw bourse until 2009, when its majority owner, Sweden-based fund EQT, paid 886 million zlotys ($238.5 million) to delist it.

XTB enables online trading in financial derivatives on the forex or commodities markets. The Enterprise Investors fund company is a minority shareholder.

HTL-Strefa recorded a 2014 core profit of 25 million euros on sales of 64 million euros. XTB booked a net profit of 76.6 million zlotys on revenue of 208 million.

EQT and Enterprise Investors declined to comment on the matter. HTL-Strefa and XTB were not available for immediate comment.

JP Morgan and Pekao Investment Banking are the leading book-runners in both offers, according to market sources.