STS Holding SA, the biggest sports betting company in Poland, wants to use part of the 1.08bn zloty ($266m) raised from its initial public offering as an investment arm.
As reported by Bloomberg, the owners of the company, the Juroszek family, want to use some of the money raised to wager on Warsaw-listed stocks.
The family has successfully sold a 30% stake in the company, which together with dividends from their Atal SA home building business, will fund an investment arm.
That investment arm will aim to buy large stakes in companies with high dividend-paying and growth potential. The sectors targeted by CEO Mateusz Juroszek include technology, eCommerce and real estate, which will take up around 20-30% of the company’s portfolio. It will, however, take at least five years to be fully operational, according to Juroszek.
The Juroszek family owns 10% stakes in asset managers Skarbiec Holding SA and Quercus TFI SA, as well as stakes in Flutter Entertainment, Evolution AB, and Better Collective. The group is also reportedly targeting Allegro, Poland’s largest eCommerce platform, despite its stocks dropping by 56% due to Amazon’s presence in the country’s market.
“We look for targets in central and Eastern Europe, but we don’t have anything precise on the radar,” Juroszek said.