Robyg may return to the Warsaw Stock Exchange
Robyg is considering returning to the Warsaw Stock Exchange, with discussions about an IPO valued at over 1 billion PLN involving mBank and Goldman Sachs.
Robyg, a major Polish residential developer, is reportedly making preparations to return to the Warsaw Stock Exchange after being delisted in 2018 following a takeover by a Goldman Sachs-related fund. Sources indicate that discussions are ongoing with investment firms, with expectations that mBank will manage the Polish offering and Goldman Sachs will handle it globally. The estimated valuation for the potential Initial Public Offering (IPO) could exceed 1 billion PLN, highlighting the company's significant return to the public market as it seeks to tap into investor interest.
The timing for the IPO appears strategic, occurring during a particularly hot market quarter where developers are competing for clients through various promotions. Robygβs recent investments have helped expand its portfolio, particularly in the Private Rental Sector (PRS) market in Poland. The company had previously commanded a strong presence on the Warsaw Stock Exchange before its delisting, and this potential return could signal confidence in the companyβs prospects and the broader market conditions.
The details regarding whether Robyg intends to issue new shares or liquidate a portion of its holdings under current owner TAG Immobilien, a German real estate giant which acquired Robyg for 2.5 billion PLN in 2022, have yet to be clarified. This development could have significant implications for the company and its stakeholders, both domestically and in international investment circles, as it aims to enhance its operational capital and visibility on the market again.