Shares in Polish e-commerce software provider Shoper jumped as much as 22% on their stock market debut in Warsaw on Friday, riding the wave of an online shopping boom amid the COVID-19 pandemic.
Shoper, which says it has around 45% of the market for providing software as a service (SaaS) for e-commerce in Poland by customer count, aims to more than double its customer base to 50,000 stores by 2026.
“Shoper is an attractive, quickly growing company with exposure to the e-commerce sector growth. (…) The offer was fully booked at the maximum price, suggesting high demand from the institutional side and that not all funds managed to buy as many shares as they wanted,” said Pekao brokerage analyst Lukasz Kosiarski.
At 0945am, Shoper’s shares were up 14.5% at 53.80 zlotys per share, compared with their offer price of 47 zlotys. They earlier traded as high as 57.53 zlotys.