FNG Exclusive… Further to our exclusive report from last week that XTB S.A. (WSE:XTB) co-founder and shareholder Jakub Zablocki had filed to sell some of his controlling stake in the company, FNG has learned that Mr. Zablocki did indeed sell 7 million XTB shares on May 10, at a price of zł38.00 per share.

The sale netted Mr. Zablocki’s holding company, XX ZW Investment Group, a total of zł266 million, or USD $64.5 million.

The share sale takes Mr. Zablocki’s ownership stake in XTB down to 61.02%, from 66.99% before the sale. XX ZW Investment Group – which is actually owned 82% by Jakub Zablocki and 18% by XTB co-founder Hubert Walentynowicz – continues to own 71.63 million XTB shares, currently worth zł2.74 billion, or USD $665 million.

As we reported last month, XTB shares have recently hit all-time highs after XTB reported record results on both the top and bottom lines for Q1-2023, taking the company’s market cap to above USD $1 billion for the first time.