Transition Technologies MS (TTMS), a key player in the IT industry and part of the Transition Technologies Group, has announced plans to proceed with an initial public offering (IPO) on the Warsaw Stock Exchange (WSE) in the coming weeks. The company, which provides IT solutions and outsourcing services, will issue new shares as part of the offering, with final terms being confirmed after receiving regulatory approval from Poland’s financial market regulator (KNF).
CEO Sebastian Sokołowski highlighted that the IPO is one of the strategies to raise capital to support TTMS’s continued growth, particularly in areas like cybersecurity, big data, and cloud computing. “Entering on WSE is one of the options to raise capital for growth of the TTMS group. We operate in a promising IT market. We develop our competences and implement systems based on artificial intelligence. We also focus on the development of the most desirable technologies, such as cybersecurity, big data and cloud computing. We cooperate with clients on the basis of long-term contracts, mainly in the managed services model. We are developing dynamically, supporting the digital transformation of the world’s largest companies from demanding industries such as pharmaceuticals, industry, education and defense.” Sokołowski said in a statement.
TTMS, which operates five subsidiaries across the UK, Malaysia, India, Denmark, and Switzerland, reported solid financial performance in 2023, with adjusted EBITDA reaching 30.4 million zlotys ($7.74 million) and revenues exceeding 217 million zlotys. In the first half of 2024, the company’s adjusted core profit saw a 2.3% year-on-year increase, totaling 13.6 million zlotys.
TTMS also plans to maintain a steady dividend policy, intending to allocate at least half of its annual profit for dividends, depending on market conditions. In 2023, the company distributed 12 million zlotys among its shareholders.
TTMS joins a growing list of Polish companies planning IPOs, including convenience store chain Żabka Group and medtech firm MediSensonic, which are also preparing for their debut on the Polish bourse.
Details of TTMS’s IPO, including specific share issuance parameters, will be provided when the prospectus is published after KNF approval.