XTB Co-Founder Zablocki Sells Shares, Cuts Stake

Jakub Zablocki, co-founder and former CEO of Polish brokerage giant XTB, has offloaded over 9.4 million shares of the company, raising approximately PLN 733.6 million (USD 194 million), according to recent regulatory filings.

The transaction, conducted via XX ZW Investment Group — the investment vehicle through which Zablocki holds his shares — represents roughly 8% of XTB’s total issued share capital. The shares were sold at PLN 78 each, marking a 7.7% discount compared to XTB’s closing price on the day prior to the sale.

Despite the reduction, Zablocki remains XTB’s largest individual shareholder, with a 35.78% stake in the company, down from 43.78% prior to the latest sale.

In an official statement, XTB emphasized Zablocki’s continued commitment to the company: “The shareholder’s intention is to remain a strategic investor in the company and to continue to support the company in its dynamic development.”

XTB Co-Founder Zablocki Sells Shares, Cuts Stake

This latest transaction follows a series of share disposals by Zablocki over the past two years. In May 2023, he sold shares worth $64.5 million, followed by additional sales in February and September 2024, raising $119.4 million and $135 million, respectively.

The most recent sale comes with a 180-day lock-up agreement, preventing any further disposals from Zablocki for the next six months.

Zablocki, who stepped down as CEO in early 2017 and left the board of directors in October 2024, currently serves as an advisor to XTB’s board.

Meanwhile, XTB has been charting a strong growth path. The company recently surpassed BM mBank to become Poland’s largest brokerage by number of accounts. The broker added 25,400 new accounts in April 2025, bringing its total to 491,700 in Poland alone.

The company has also expanded its geographic footprint and diversified its trading product lineup to better serve retail clients, reinforcing its leadership position in the competitive FX and CFD brokerage space.

With Zablocki’s influence still present, albeit from a more distant role, XTB appears set on a course of continued expansion, even as its co-founder gradually reduces his direct ownership.

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