The share price Shoper in the IPO was set at PLN 47

The public offering of shares Shoper attracted high interest from investors. The selling price per share in the offering was set at the maximum price, or PLN 47.00. The value of the offering will be PLN 363 million, of which 91.9 percent of the shares will be purchased by institutional investors and the remaining 8.1 percent by individual investors.

- The Shoper offering has received high interest from investors. During the roadshow meetings, we received a lot of positive feedback from institutional investors in the context of our SaaS and pay-as-you-grow business model, which allows us to grow with the users of our platform. The potential for further scaling of the business has been evaluated positively, and we have challenging work ahead of us to execute our chosen strategy and continue to dynamically increase our results year-on-year. We are also pleased by the interest from individual investors, who gain access to another interesting entity with exposure to the e-commerce industry," comments Marcin Kuśmierz, CEO of Shoper.

Shoper is a leader in the Polish market of e-commerce software providers in the SaaS model - the Company's data shows that it has about 45% market share in terms of the number of customers served, and including stores sold on a private label basis, this share rises to about 57%. It allows entrepreneurs to conveniently, quickly and easily set up their own online store and conduct sales in the online channel. The Company's comprehensive offer consists of a subscription-based platform Shoper, which allows for flexible adjustment to the needs of a given client, and a range of services sold in the pay-as-you-grow (PAYG) model, correlated directly to the number of orders or the volume of turnover (GMV) generated by stores on the platform.

The subject of the offering is 7,731,628 shares in the company, which represent 27.11 percent of the company's share capital and 27.50 percent of votes at the General Meeting (together with the stabilization option, about 9 percent of the number of shares in the offering). The offerors of the shares are the company's current shareholders, i.e. private equity fund V4C POLAND PLUS FUND S.C.A. SICAV FIAR, Modhaus sp. z o.o., KFF Sarl, Krzysztof Krawczyk and Rafał Krawczyk. The selling shareholders and the Company have agreed not to sell or issue shares in the company for 360 days after the offering. The managers of the offering are mBank S.A., PKO BP Brokerage Office and WOOD & Company Financial Services, a.s.

In addition to setting the price per share, the number of shares was also divided between individual investors, who were eventually offered 623,512 shares, representing about 8 percent of the offered shares, and institutional investors, to whom the remaining 7,108,116 shares will go. The allotment date is set for July 5.

- Shoper operates in a rapidly growing market, and we are growing even faster than it, with very good prospects for the coming years. We have a plan to achieve our ambitious goals of growing the user base of the Shoper platform to 50,000 online stores in 2026, and increasing the share of revenue correlated with the scale of stores in the pay-as-you-grow model to 80%. While working to achieve these goals, we want to adhere to the best practices of listed companies and gain trust in the eyes of investors," adds Marcin Kuśmierz.

The solutions offered by Shoper were used by more than 21,000 stores at the end of Q1 2021, including about 17,000 direct customers, who generated nearly 4.5 billion GMV1) in the 12 months ended March 31, 2021. The remaining approximately 4 thousand stores were sold under the Private Label formula by the Company's partners. The Shoper services are used by, among others: Wawel, Sports Channel, Pat&Rub, Kruger&Matz, Military Property Agency.

In Q1 2021, Shoper generated about PLN 15.8 million in revenue, up 71 percent year-on-year. Operating profit rose 69 percent to about PLN 5.5 million, and net profit rose 92 percent to about PLN 4.5 million.