News
Strong Transaction Activity on the WSE in the First Half of 2026
The Warsaw Stock Exchange (WSE) has published the WSE Transaction Barometer, covering the second quarter and cumulative data for the first half of 2026. Between April and June, the total value of equity transactions on the Main Market reached PLN 15.8 billion, representing an almost ninefold increase compared with the first quarter of the year. The results confirm continued strong issuance activity and a diversified structure of corporate financing.
- PLN 15.8 billion - total value of equity transactions on the WSE Main Market in Q2 2026
- PLN 29.5 million - value of IPO transactions preceding NewConnect market debuts in Q2 2026
- PLN 8.9 billion - value of corporate bonds admitted to trading in Q2 2026
- 6 – WSE Main Market debuts in Q2 2026
- 8 - ABB (accelerated book building) transactions on the WSE Main Market
- 10 - secondary public offerings (SPOs) on the WSE Main Market in Q2 2026
- 5 - debuts on the NewConnect market in Q2 2026
- 19 - bond series worth PLN 8.9 billion admitted to trading on Catalyst in Q2 2026
Six companies debuted on the WSE Main Market in the second quarter. In the entire first half of the year, the number of debuts reached eight, exceeding the full-year total for 2025. The debuts comprised classic public offerings as well as admissions via dual listings and spin-offs of business segments from already-listed issuers.
The scale of market activity was reflected not only in the number of debuts but also in the value of transactions. Eight ABB transactions, ten SPOs and six debuts together generated Q2 transaction value of PLN 15.8 billion. Secondary offerings accounted for a substantial share of this activity, with issuers raising a combined PLN 6.0 billion through SPOs in the quarter – almost double the full-year total for 2025.
- In terms of both volume and value, this was the strongest half-year for secondary offerings in many years. Issuers raised more than PLN 6 billion for development purposes. The high level of secondary issuance activity confirms the market’s ability to mobilise capital quickly and at varying scale, serving issuers at different stages of development and translating into a genuine inflow of capital into the real economy – said Izabela Mikołajczyk, Director of the Primary Market Department at the Warsaw Stock Exchange.
Five companies debuted on the NewConnect market in the second quarter. The market also recorded three capital-raising transactions with a combined value of PLN 13 million, alongside one ABB transaction worth PLN 3.6 million – underscoring NewConnect’s continued role in financing companies at earlier stages of growth.
On the Catalyst market, 19 bond series with a combined value of PLN 8.9 billion were admitted to trading in Q2, compared with 28 series worth PLN 6.1 billion in Q1 2026. The lower number of series alongside higher aggregate value points to larger average issue size and the growing weight of significant issuances by existing participants. Between April and June, two new issuers entered the Catalyst market, raising a combined PLN 131 million. Over the entire first half of the year, the number of new issuers reached eight, while activity was driven primarily by issues launched by existing market participants.
- A key takeaway from Q2 2026 transaction activity is the growing role of the capital market as a channel for directing capital into the corporate sector. The trends observed point to the market’s resilience and a gradual stabilisation of its operating conditions. Despite ongoing headwinds, this environment supports the use of the capital market as a tool for the economy’s long-term development. New solutions to support issuers, together with initiatives undertaken by the WSE in the NewConnect and Catalyst markets, may over time enhance their significance and appeal to both issuers and investors – emphasised Michał Kobza, Member of the Management Board of the Warsaw Stock Exchange.
The WSE Transaction Barometer is a regular publication. Future editions will be released after the end of each quarter. The report is available free of charge on the WSE website.
WSE Transaction Barometer (Polish version)
