FNG Exclusive… FNG has learned via regulatory filings made in Poland that XTB (WSE:XTB) co-founder and controlling shareholder Jakub Zablocki has sold another large block of his shares in the company.

Via an accelerated book-building process held after markets closed on Monday (May 19), Mr. Zablocki’s holding company XX ZW Investment Group SA sold 9,405,540 XTB shares at a price of PLN 78 each, for total gross proceeds of PLN 733.6 million, or USD $194 million. The sale was managed by investment banks Santander and UBS.

The PLN 78 sale price was done at a 7.7% discount to XTB’s closing price Monday of PLN 84.50.

The share sale took Jakub Zablocki’s holdings in XTB down from 43.78% prior to the sale, to 35.78% currently. His remaining 42,067,329 XTB shares remain subject to a 180 day lock-up, as is standard in these kinds of transactions.

This actually marks the fourth major XTB share sale by Jakub Zablocki over the past 24 months, in which he has cashed out more than $500 million worth of shares. In September 2024 he sold $135 million worth of XTB shares, taking his holdings in the company he co-founded under 50% for the first time. In February 2024 Jakub Zablocki cashed in $119.4 million, and in May 2023 he sold $64.5 million worth of shares.

At the beginning of the aforementioned share sales, Jakub Zablocki owned 67% of XTB.

Year-to-date in 2025 XTB shares are up by 16%, and earlier this month hit an all-time high of PLN 91.76. XTB recently reported record Revenue of $155 million (but flat Profit) for Q1 2025.

XTB share price 2025 year-to-date. Source: Google Finance.