XTB Co-Founder Sells $194 Million in Shares

XTB co-founder Jakub Zablocki sells $194M in shares, lowering his stake to 35.78%. This marks his fourth major sale in two years, totaling over $500M.

Key Points: 

• XTB co-founder Jakub Zablocki sold another 9.4 million shares for $194 million, reducing his stake from 43.78% to 35.78%.
• This is Zablocki’s fourth major share sale in the past two years, bringing his total cash-out to over $500 million, even as XTB‘s stock has performed strongly.

Jakub Zablocki, co-founder and controlling shareholder of Polish brokerage XTB (WSE:XTB), has once again significantly reduced his stake in the company. Regulatory filings in Poland reveal that Mr. Zablocki’s holding company, XX ZW Investment Group SA, sold 9,405,540 XTB shares via an accelerated book-building process held after markets closed on Monday, May 19th.

XTB Co-Founder Sells $194 Million in Shares

The transaction, managed by investment banks Santander and UBS, saw the shares sold for PLN 78 each, generating total gross proceeds of PLN 733.6 million, or approximately USD 194 million. This sale price represents a 7.7% discount to XTB’s closing price on Monday, which stood at PLN 84.50.

This latest divestment brings Jakub Zablocki’s holdings in XTB down from 43.78% to 35.78%. His remaining 42,067,329 XTB shares are now subject to a standard 180-day lock-up period, a common practice in such transactions.

This marks the fourth major share sale by Mr. Zablocki over the past 24 months, through which he has now cashed out more than $500 million worth of XTB shares. His previous sales include $135 million in September 2024, which was the first time his ownership in the company he co-founded dipped below 50%. This was followed by a $119.4 million sale in February 2024 and a $64.5 million sale in May 2023. At the beginning of these recent share sales, Jakub Zablocki owned a substantial 67% of XTB.

The share sales come amidst a period of strong performance for XTB. Year-to-date in 2025, XTB shares have risen by 16%, hitting an all-time high of PLN 91.76 earlier this month. The company also recently reported record revenue of $155 million for Q1 2025, although profit remained flat.

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