Poland's Diagnostyka plans IPO on Warsaw bourse

Gdansk: Polish medical diagnostics firm Diagnostyka is planning an initial public offer (IPO) on the Warsaw Stock Exchange, the company said on Monday.

"The planned IPO is an important step to support the further development of the company and help us continue to strengthen our position in the market and increase shareholder value," CEO Jakub Swadzba said in a statement.

The planned offering will involve the sale of existing shares held by LX Beta S.a r.l., controlled by the MidEuropa III Management Limited, which currently holds 47.83 per cent of Diagnostyka's shares.

Diagnostyka said it would not issue or offer new shares in connection with the IPO.

The offering will be addressed to retail and institutional investors in Poland and select international markets, with some 5% to 10% of the shares allocated to retail investors, it said.

The Diagnostyka Group, which started operations in 1998, said it was a market leader in Poland's medical diagnostics industry with more than 1,100 blood collection points, 156 laboratories and 19 imaging facilities.

It reported revenue of 1.6 billion zlotys ($382.9 million) in 2023 and 1.46 billion zlotys in the first nine months of 2024. ($1 = 4.1787 zlotys) (Reporting by Marta Maciag; editing by Milla Nissi)