Information provided by the nominee
Shoper S.A. was announced the best performing IPO in Poland in 2021, delivering 47% growth between IPO in July til year-end. Shoper outperformed both local e-commerce players (Allegro, InPost) as well as its closest comparable, NASDAQ-listed Shopify. The Fund has returned over 2x on the entire investment cost, while retaining 72.5% of its original shares. IPO Valuation amounted to 53x EV / LTM EBITDA.