The owners of the Polish mobile payment system Blik are holding preliminary talks about conducting an initial public offering in Warsaw. According to reports from Bloomberg, the potential company valuation could reach $2 billion, which would make this debut one of the largest on the Polish market in recent years. Although the supervisory board has analyzed the benefits of an IPO, final decisions regarding the operation have not yet been made.
Record fintech valuation
Blik is currently valued at approximately $2 billion, equivalent to over 7.8 billion PLN depending on the exchange rate.
Debut on the Warsaw trading floor
The owners are considering an IPO on the WSE in Warsaw, which would be one of the largest debuts in the technology sector in recent years.
No final decision
The supervisory board has held preliminary talks, but the official process of preparing for the public offering has not yet been formally approved.
The Polish leader in mobile payments, the Blik system, may soon become one of the most important companies listed on the Warsaw Stock Exchange. Information from the Bloomberg agency indicates that the owners of Polish Payment Standard have taken initial steps to examine the rationale for conducting an IPO. The analyses primarily concern the strategic benefits that would arise from taking the company public and defining the main purpose of the share issue. Experts point to the impressive valuation of the fintech, which could amount to around $2 billion, equivalent to over 7.8 billion PLN. This would be an event of enormous significance for the Warsaw trading floor, which has recently been seeking large and innovative debuts. However, it is not clear whether the raised capital would be used to finance foreign expansion or to enable current shareholders to exit their investments. The Blik system was launched in February 2015 as a joint initiative of Alior Bank, Bank Millennium, ING Bank Śląski, mBank, PKO BP, and Santander Bank Polska, revolutionizing the Polish cashless payment market. Although the supervisory board of Polish Payment Standard has discussed the proposal to begin work on a stock exchange debut, company representatives emphasize that no binding decisions have been made yet. This process is at a very early stage, and the talks are confidential. Investors are closely following these reports, as the stock market success of Poland's most popular payment system could attract other players from the modern financial technology sector to the exchange. ~8 bn PLN — estimated valuation of the Blik system operator Estimated fintech valuations (bn USD): Blik: 2.0, Other Polish fintechs: 0.8, Tech startups: 0.5 The prospect of Blik entering the WSE comes at a time when the company is intensively promoting its solutions outside the country, including in the markets of Romania and Slovakia. Raising funds from the stock exchange could significantly accelerate building its position as a payment leader in Central and Eastern Europe. The owners' decision will depend on the stability of capital markets and the assessment of the brand's long-term development strategy.