Shares of ROBYG S.A. (“ROBYG”, “the Company”, together with its subsidiaries “the Group” or “the ROBYG Group”) made their debut today on the main market of the Warsaw Stock Exchange. The opening price was PLN 35,80 representing an increase more than of 5% compared with the offer price.
On the day of its debut 96,467,066 existing shares in ROBYG S.A. and 9,646,706 newly issued shares were admitted to trading on the Warsaw Stock Exchange. The sale price was set at PLN 34.00 per share, and the value of the Offer amounted to nearly PLN 1.178 billion. In parallel with the offer, the Company issued approximately 2.4 million registered Series C ordinary shares, which were offered to selected key managers of the Group, members of the Company’s management board and the chairman of the Company’s supervisory board. The total gross proceeds from the issue of new Series B and C shares amounted to approximately PLN 402 million.
“We have come a long way since our last listing on the Warsaw Stock Exchange – from an organisation focused mainly on Warsaw, we have become one of Poland’s leading residential property developers, operating in key urban areas. Over the years, we have developed the Group on the basis of financial discipline, the consistent building up of our land bank and a focus on our customers’ needs. I would like to extend my special thanks to our customers, because it is thanks to their choices and trust that ROBYG is where it is today. I would like to thank everyone who has helped shape ROBYG and supported its growth: our employees, business partners and shareholders, who have placed their trust in our strategy and development plans. We regard today’s market debut as confirmation of the organisation’s maturity and its readiness for further growth as a public company” says Oscar Kazanelson, Chairman of the Supervisory Board of ROBYG S.A.
“ROBYG’s comeback to the Warsaw Stock Exchange marks the next stage in the Group’s development. We have 26 years of experience in the Polish housing market behind us, with nearly 38,000 units contracted and consistent expansion of our operations in the largest urban areas. We intend to continue developing ROBYG in a responsible, transparent and predictable manner, capitalising on favourable market trends and our brand’s strong reputation. I would like to thank the TAG Immobilien Group, the ROBYG team, our advisers and partners for their professionalism and commitment, and our customers for their trust, which has enabled us to reach this point” comments Eyal Keltsh, President of the Management Board of ROBYG S.A.
ROBYG is one of Poland’s leading residential property developers, and the scale of its operations, its recognisable brand and the experience gained across various phases of the market cycle form the foundation of the Group’s stable market position. It pursues a ‘deep value developer’ strategy – selectively acquiring land with undervalued potential, including large plots requiring planning or infrastructure work, with a view to generating attractive margins whilst managing risk.
The ROBYG Group operates on the basis of an integrated business model that combines property development and main contractor expertise. This approach enables the Group to manage the entire project delivery process efficiently, maintain cost discipline and generate recurring revenue from services. ROBYG’s distinguishing feature is its land bank, and its disciplined land acquisition policy, together with its ability to secure investment sites at an early stage of the investment process, helps to secure its future project portfolio and helps supports the Group’s long-term growth. Approximately 50%[1] of ROBYG’s land bank is located in Warsaw, where customer interest and transaction prices have been rising steadily in recent years.
“We are debuting on the Warsaw Stock Exchange as a company with a solid financial position, a proven business model and a high level of readiness to operate on the public market. The fact that the order book was oversubscribed several times by investors shows that the market has recognised our consistency in action and the credibility we have built up over the years. We believe that our listing on the WSE will strengthen the Group’s financial flexibility, broaden access to capital and support the disciplined execution of our growth strategy. I would like to thank the entire TAG and ROBYG project team, our banking partners and all advisers whose expertise, dedication and close cooperation made this successful IPO possible” comments Marta Hejak, Vice-President of the Management Board and Chief Financial Officer of ROBYG S.A.
ROBYG operates across all price segments – from affordable properties to premium developments – focusing primarily on the mid-market segment, where demand remains strongest. The company also offers attractive smart home solutions, which are highly rated by customers. ROBYG’s project portfolio is concentrated in Poland’s largest and fastest-growing urban areas, namely Warsaw, the Tri-City, Poznań, Wrocław, Łódź and Kraków.
“The stock market debut marks the end of a demanding IPO process, but from an operational perspective it is the start of the next phase of work on our project portfolio. We have one of the largest and best-located land banks amongst residential property developers in Poland, which gives us good prospects for growth in the coming years. Our challenge now is to efficiently translate this potential into new developments, drawing on our teams’ experience, the scale of our organisation and our in-depth knowledge of local markets” says Artur Ceglarz, Vice-President of the Management Board of ROBYG S.A.
[1] Warsaw’s 50% stake in the land bank relates to a land bank with the potential for 17,824 properties, following land transactions between ROBYG and Vantage.
