FNG Exclusive… FNG has learned via regulatory filings made in Poland that Jakub Zablocki, co-founder and major shareholder of Warsaw based CFDs broker XTB SA (WSE:XTB) is planning to sell another big block of his shares in the company.

The sale will be arranged via an accelerated book-building process, to be managed by investment banks Bank Handlowy (which operates as the Polish corporate arm of the global Citigroup network), Citigroup, and UniCredit in cooperation with Kepler Cheuvreux S.A.

The filings indicate that Jakub Zablocki plans to sell 9,405,540 shares of XTB, which at Wednesday’s closing price of PLN 174.30 are worth PLN 1.64 billion, or USD $439 million. The shares represent approximately 8% of XTB’s outstanding share capital and, if all sold as planned, would reduce Mr. Zablocki’s stake in the company down to 32,661,789 shares, or 27.78%, from 35.78% currently.

Jakub Zablocki last sold some of his XTB shares back in May 2025, via holding company XX ZW Investment Group SA, which at the time represented the fourth major XTB share sale by Mr. Zablocki over a 24 month period.

While XTB shares declined today by about 5% following the confirmation of a $5 million against the company by Polish regulator KNF, they have done very well over time – more than doubling in value since Mr. Zablocki’s last share sale (done at PLN 78 per share) in May 2025, as noted above.

XTB 1-year share price graph. Source: Google Finance.