On 18 February, Work Service will become dual-listed on the Main Market of the London Stock Exchange. The company’s shares will be simultaneously listed on the Warsaw Stock Exchange and on the London Stock Exchange. Work Service is the first Polish company to enter the London Stock Exchange directly, without using depositary receipts. In this manner, the company wishes to open up to global investors and strengthen its position in Europe.
The Work Service Group, which is the largest Central European company in the HR sector, will be dual-listed on the London Stock Exchange as of 18 February. The company will make a technical dual listing, which does not involve the issuance of additional shares.
For us, the completion of the dual listing process is the next step towards strengthening Work Service’s position in international markets. This operation will increase our brand recognition and give us access to a large group of investors globally. We are convinced that our presence on the London Stock Exchange will help us strengthen our position as a regional industry leader and ultimately enter the top five of HR service providers in Europe – says Maciej Witucki, President of the Management Board of Work Service S.A.
Work Service shares will be simultaneously listed on the Warsaw Stock Exchange and on the London Stock Exchange. They will be denominated in PLN and GBP and their prices will be linked. The securities’ prices on both stock exchanges will be the same.
The London Stock Exchange is a natural destination for us as we are a company that operates in Europe. Presence on the most important European stock exchange will allow us to decouple the price of our shares from the trends prevailing on the Warsaw Stock Exchange and to demonstrate Work Service’s true potential. Through the technical dual listing we want to become more attractive to investors and to reduce investment risk – says Tomasz Misiak, Chairman of the Supervisory Board of Work Service S.A.
Work Service S.A. is the first Polish company from the HR services sector listed on the Warsaw Stock Exchange and a key partner for more than 3,000 major companies in Poland and across Europe. Each year, it provides employment to nearly 300,000 workers in Poland, the Czech Republic, Slovakia, Russia, Germany, Turkey, Romania, Hungary, Great Britain, Belgium, France and Switzerland. The HR services market is a large and attractive sector. In 2014, the entire HR services industry in Poland generated a turnover of PLN 2,788 million, i.e. 22% higher than in 2013.
Work Service has consistently pursued its expansion strategy in Europe. Business development and geographical expansion open up further options for acquiring new clients. In 2015, the company entered the permanent recruitment services market in Hungary and Germany, implemented a strategy for recruiting and contracting IT professionals in countries such as the Czech Republic, Slovakia, Hungary, Germany and Switzerland, and also developed its cross-border recruitment activities. Presence on the London Stock Exchange is another step towards strengthening our position in Europe – says Tomasz Hanczarek, Vice-Chairman of the Supervisory Board of Work Service S.A.
The innovative technical dual listing solution was developed for Work Service by the ProPrimo consultancy and implemented in collaboration with the Kochański Zięba i Partnerzy law firm.
The Work Service Group has operated since 1999 and is the largest provider of comprehensive HR services in the Polish market. It operates throughout Poland through a network of branches and also in 11 other European countries (Russia, Germany, Czech Republic, Turkey, Romania, Hungary, Slovakia, Great Britain, Belgium, France and Switzerland). Its specialty areas include personnel consulting services as well as HR restructuring, recruitment and staff outsourcing. More than 3,000 companies have already chosen Work Service as their business partner. Every day, 50,000 persons – and 300,000 workers a year – find employment via the companies belonging to the Work Service Group. Work Service is the first company from the HR services sector listed on the Warsaw Stock Exchange.
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President of Work Service International Management Board
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