WSE ended the year 2013 with 897 companies listed in aggregate on the Main Market and in the alternative trading system on the NewConnect market. 

Listing encompasses admission and introduction to exchange trading and listing of securities on the markets organised and operated by the Group.

WSE ended the year 2013 with 897 companies listed in aggregate on the Main Market and in the alternative trading system on the NewConnect market. The total number of 65¹ new listings on both markets in 2013 (including 7 companies which transferred from NewConnect to the Main Market) gave WSE the second rank in Europe (after London Stock Exchange) and a top position globally. IPOs on WSE in 2013 represented 20.2%² of all IPOs on European exchanges. WSE also ranked fifth amongst the most important European markets in terms of the value of IPOs according to the annual PwC IPO Watch Europe survey. During five years from 2009 to 2013, WSE represented from 4.38% to 22.4% of the annual IPO values on the surveyed markets.

Value of IPOs on WSE markets and share among the main national markets in Europe

There were 23 IPOs on the Main Market in 2013, compared to 19 IPOs in 2012 and 38 IPOs in 2011. As at 31 December 2013, the number of companies listed on the Main Market amounted to 450, including 47 foreign companies, and was higher by 2.7% than the number of companies as at the end of 2012.

Capitalisation, number of IPOs and number of listed companies on the Main Market

In 2013, the growth of WSE was enhanced by the public offering and new listing of shares of PKP Cargo S.A. in October 2013 (IPO value: PLN 1.4 billion) as well as the sale of the stake held by State Treasury in Energa S.A. combined with its new listing on WSE in December 2013 (IPO value: PLN 2.4 billion). The IPO of Energa S.A. was the biggest IPO in the CEE Region in 2013 and according to PwC IPO Watch it was the tenth largest IPO on European markets included in the survey in Q4 2013.

In 2013, 5 foreign companies were newly listed on the Main Market, representing 21.7% of the 23 newly listed companies. Three of the newly listed foreign companies are dual-listed on the WSE and two are single-listed.

Number of new listings on the Main Market by domestic and foreign companies

The increase in the number of IPOs on NewConnect in 2013 was lower than before. There were 42 IPOs on the market, including 3 IPOs of foreign companies. 7 issuers listed on the alternative market transferred to the WSE Main Market.

As at the end of 2013, the NewConnect listed 445 companies (including 11 foreign companies) whose capitalisation amounted to PLN 11 billion.

Capitalisation, number of IPOs and number of listed companies on NewConnect

The debt instrument trading system Catalyst created in 2009 was an important driver of growth for the market of non-Treasury debt instruments in Poland in yet another year of its operation. The nominal value of non-Treasury debt instruments listed on Catalyst was PLN 58.9 billion at 2013 year-end, an increase of 12.6% compared to 2012 year-end. As bonds of 47 issuers were newly listed on the market in 2013, the number of non-Treasury issuers reached 175 at 2013 year-end. Catalyst listed 408 series of non-Treasury debt instruments at 2013 year-end, and another 25 series were authorised.³ Issuers whose instruments were listed at 2013 year-end included 18 local governments, 135 enterprises and 22 co-operative banks.

Including the State Treasury, the number of issuers on Catalyst was 176 at 2013 year-end and 156 at 2012 year-end. The total nominal value of non-Treasury and Treasury debt instruments listed on Catalyst was PLN 619.1 billion at 2013 year-end as compared to PLN 567.3 billion at 2012 year-end.

TBSP offers trade in Treasury securities (Treasury bonds and bills). As a rule, all non-retail Treasury bonds denominated in PLN and Treasury bills are introduced into trading. TBSP listed 29 series of Treasury bonds with a nominal value of PLN 559.9 billion and no series of Treasury bills at 2013 year-end.

Since 21 January 2013, TBSP also offers trade in euro denominated Treasury bonds. 11 series of euro denominated Treasury bonds with a nominal value of EUR 25.7 billion were listed at the end of 2013.

WSE continued to develop the segment of cash market instruments and added new classes and series of structured products to its offer. Two new types of structured products were introduced to trading in 2013: Twin Win certificates and reverse convertible notes, while the range of existing instruments was largely expanded. A new issuer of ETFs was ING Bank N.V., Netherlands. As at 31 December 2013, 629 series of structured products were in trading on WSE, compared to 411 at the end of 2012.

[1] The IPO Watch Europe 2013 report mentions 54 IPOs: the report does not include companies which transferred from NewConnect to the WSE’s Main Market and companies dual-listed on the WSE which earlier had an IPO on another exchange covered by the PwC survey.
[2] Source: PwC IPO Watch Europe report which covers exchanges in Austria, Belgium, Denmark, France, Germany, Greece, Ireland, Luxembourg, Netherlands, Norway, Poland, Portugal, Spain, Sweden, Switzerland and the UK.
[3] Authorisation of bonds on Catalyst involves acceptance of the issuer’s disclosure obligations set out in the Catalyst Rules and registration of the issue in the Catalyst information system.