EQS-News: LM Pay S.A.
/ Key word(s): IPO
LM PAY S.A. successfully launched on the Primary Market of the Düsseldorf Stock Exchange
LM PAY S.A. (ISIN: PLLMPAY00016, WKN A3EWU0), the market leader in bank-independent financing of medical and aesthetic services for private customers based in Warsaw, Poland, has successfully started trading on the Düsseldorf Stock Exchange. Trading takes place on the Primary Market of the Düsseldorf stock exchange, the special segment for innovative small and medium-sized companies. This makes the company the first Polish company to be listed on the Primary Market of the Düsseldorf Stock Exchange. All of the company's 620,779 no-par value bearer shares are included in stock exchange trading. The opening price was EUR 54.50. This results in a market capitalisation of EUR 33.8 million at the start of trading. The free float amounts to 28%. The listing of LM PAY S.A. was accompanied by mwb fairtrade Wertpapierhandelsbank AG as applicant and capital markets partner.
Jakub Czarzasty, CEO of LM PAY S.A., is delighted that the company's shares can now be traded in Germany: "Our success on the Polish market proves the high interest of patients in innovative, fast and convenient payment methods and financing, as they are specifically tailored to the needs of consumers. At the same time, our service offers clinics and other providers of medical and aesthetic facilities the opportunity to expand their business. The debut on the Primary Market in Düsseldorf is part of our long-term growth strategy. We have recognised that the market for financing medical services is growing, which is why we want to expand the scope of our activities together with our investors."
In the past financial year ending 31 December 2022, LM PAY S.A. generated revenues of EUR 3.4 million and an operating result (EBIT) of EUR 0.8 million. The company was able to process more than 33,000 financing transactions in this period.
With the listing on the Primary Market of the Düsseldorf Stock Exchange, LM PAY S.A. is consistently pursuing its growth strategy - also beyond the Polish domestic market. The fact that the shares are now tradable makes it easier for investors to participate in LM PAY S.A.'s innovative business model. In addition, the increasing level of awareness and flexible refinancing options will open up additional growth opportunities for the company.
LM PAY is currently planning to significantly expand the number of its distribution partners in its home market of Poland and to enter the Romanian and Bulgarian markets. The move to the capital market supports the implementation of the long-term growth strategy beyond the measures already initiated.
About LM PAY S.A.
Under the MediRaty, MediPay and MediKod brands, LM PAY S.A. offers consumer loans and so-called "care now pay later" solutions for pre-financing and covering the costs of medical and dental treatment and hospitalisation. The company is active in Poland. The range of medical treatments financed by the loans granted by the issuer includes the fields of rehabilitation, laryngology (throat diseases), bariatrics (obesity), gynaecology, urology, diagnostics (including genetics), dentistry and dental optics, plastic surgery, aesthetic medicine, cosmetic services, orthopaedics, and veterinary services. The company is headquartered in Warsaw, Poland, and had 52 employees at the end of the last financial year (31 December 2022).
Tel: +48 793 401 704
21.11.2023 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG.
|Company:||LM Pay S.A.|
|Listed:||Regulated Unofficial Market in Dusseldorf (Primärmarkt)|
|EQS News ID:||1778505|
|End of News||EQS News Service|
1778505 21.11.2023 CET/CEST