Poland's Diagnostyka sets IPO price at 105 zlotys per share (updated)
31/01/2025 06:13
(Adds details and background in paragraphs 3-9)
GDANSK, Jan 31 (Reuters) - Polish medical diagnostics
company Diagnostyka on Friday said it priced its initial public
offer at 105 zlotys per share, the top of a previously indicated
range, valuing it at 3.54 billion zlotys ($874.27 million).
Diagnostyka said shareholder LX Beta, backed by private
equity fund Mid Europa Partners, will offer 16.1 million shares
in the IPO, bringing the value of the offering to about 1.70
billion zlotys.
The offering follows that of convenience store Zabka's
ZAB.WA 6.45 billion zloty share sale in October, which was the
largest IPO in Poland since e-commerce platform Allegro in 2020.
Diagnostyka, which performs blood, microbiological and
genetic tests as well as diagnostic imaging, will not receive
any proceeds from the IPO.
Founded in 1998, the company describes itself as a market
leader in Poland's medical diagnostics industry, with more than
1,100 blood collection points, 156 laboratories, and 19 imaging
facilities.
The group competes in laboratory testing with Synevo, owned
by Sweden's Medicover MCOVb.ST and Grupa Alab, and in
diagnostic imaging with Voxel VOXP.WA and insurer PZU
PZU.WA .
It reported revenue of 1.6 billion zlotys and a recurring
core profit of 383 million zlotys in 2023.
In its prospectus, Diagnostyka said its management intends
to recommend a dividend of 50% of net profit, with the
possibility of increasing it in years of exceptionally strong
financial results.
Diagnostyka's shares are set to make their stock market
debut on Feb. 7.
($1 = 4.0491 zlotys)
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(Reporting by Rafal W. Nowak; Editing by Christopher Cushing
and Varun H K)
((RafalWojciech.Nowak@thomsonreuters.com; +48 58 769 66 63;))