Rex Concepts launches an initial public offering (IPO). The maximum price was set at PLN 17.50 per share, the company wants to place 32 million new shares, which will constitute up to 33.6 percent. increased capital. This means that the company can obtain PLN 560 million at the maximum price. The valuation of the entire company in the post-money variant (after collecting this money) would amount to approximately PLN 1.6 billion.
In addition, no more than 3.56 million existing series B shares may be sold, which are to be used to carry out stabilization activities (thanks to which the brokerage house will be able to try to stabilize the price in the first period after the debut).
What will the money obtained from investors be used for?
The funds are to be used to achieve the main objectives, i.e. financing the group's current business plan and accelerating the growth of existing brands and markets, as well as achieving supporting objectives, which include consolidation opportunities on CEE markets, entering a new product category or introducing a new brand to the Group's portfolio or potential expansion into new geographic markets using existing brands.
It plans to allocate part of the funds that the company intends to obtain from the offer for acquisitions. — Now we are unable to provide both the moment when it will happen and the specific goals. However, we see potential both in the context of consolidation and the possibility of purchasing some restaurants for conversion to existing brands. The possibility of entering other countries is very likely in terms of implementing our strategy. This does not change the fact that Poland, the Czech Republic and Romania still offer us great opportunities, said President Olgierd Danielewicz, pointing out that the company wants to develop only in Central and Eastern Europe.
— We are an organization that has a very clear and clear focus. We focus on Central and Eastern Europe and the QSR area, i.e. quick service restaurants. We have experience in this, we know how to do it and we want to use this know-how in the future – said the financial director of Rex Concepts, Małgorzata Kloka.
According to the company's plan, the amount of approximately PLN 130 million is to be used mainly to finance the development of the restaurant portfolio by opening new locations in accordance with the planned development program, which assumes the opening of a total of approximately 70 new own restaurants in 2026 and over 80 own restaurants annually in the following years. Moreover, the company plans to allocate approximately PLN 110 million to accelerate the expansion of the Burger King and Popeyes restaurant chains, beyond the levels assumed in the current business plan.
Rex Concepts, annual financial results.
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RexConcepts
The company plans to allocate approximately PLN 150 million to consolidation. As reported, the group is identifying consolidation opportunities in the markets of Central and Eastern Europe, which are aimed at expanding the reach and scale of the Burger King and Popeyes brands.
The company plans to allocate net proceeds of approximately PLN 68 million to adding a new brand (one or more) to the existing chain of fast food restaurants, and approximately PLN 70 million for potential expansion into a new geographic market using existing brands, with particular emphasis on the CEE region.
Subscriptions for Rex Concepts shares are starting
The process of building a book of demand among institutional investors will be carried out in the period April 17-23, 2026. On April 17-23, subscriptions from individual investors will take place, and on April 24-28, subscriptions from institutional investors will be accepted. Individuals will receive from 10 percent. to about 20 percent the final number of shares offered.
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The selling shareholder will undertake to refrain from offering or selling Rex shares for a period of 540 days from the date of the first listing of rights to shares (lock-up), while the company and key managers participating in the offering will undertake to do so for a period of 360 days.
The company stated in its prospectus that it does not plan to pay dividends in the foreseeable future.
Former AmRest managers in the new business
Rex Concepts is the operator of a chain of quick service restaurants (QSR – Quick Service Restaurants), operating on the Polish, Czech and Romanian markets. The group was founded in 2022 by Olgierd Danielewicz and Peter Kaineder (former managers of AmRest, listed on the WSE), in cooperation and with the support of Henry McGovern (founder of AmRest) and Steven K. Winegar (founder of Restauravia Grupo Empresarial).
The group is the main franchisee of the Burger King and Popeyes brands in Poland, the Czech Republic and Romania. At the end of 2025, the group managed 159 premises – 65 Popeyes restaurants (compared to 27 a year earlier) and 94 Burger King restaurants (compared to 73 a year earlier). In 2025 alone, the group opened 59 new restaurants. In addition to its own premises, at the end of 2025, the Burger King chain also operated 96 restaurants run by independent sub-franchisees.
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It is planned to open approximately 70 new restaurants in 2026 and over 80 restaurants annually in the following years in Poland, the Czech Republic and Romania, with the goal of reaching the number of approximately 850 locations by 2032 (of which over 700 restaurants are to be the group's own restaurants).
At the end of 2025, the Rex Concepts group recorded PLN 594.6 million in revenues compared to PLN 358.5 million a year earlier, which means a y-o-y increase of 66%. EBITDA amounted to PLN 43.4 million in 2025 compared to PLN 6,000. PLN a year earlier. EBITDA at the restaurant level (4-wall EBITDA) increased from PLN 61.1 million in 2024 to PLN 113.6 million in 2025.
Rex Concepts expects revenues to increase nearly threefold in the next two years (2026-2027) compared to 2025, while in the next three years (2028-2030) revenues are expected to at least double compared to 2027.
Note: the information contained in the text is for informational purposes only and does not constitute an investment recommendation, information recommending or suggesting an investment strategy within the meaning of applicable regulations, or any other form of advice regarding the purchase or sale of financial products.
