Polish listed company wins prestigious EC competition

Polski Bank Komórek Macierzystych (Polish Stem Cell Bank, PBKM), a company listed on the Warsaw Stock Exchange (WSE), won a prestigious competition for the most innovative company, co-organised by the European Commission.

The European Small and Mid-Cap Awards is organised by the European Commission and the Federation of European Securities Exchanges, with 27 European bourses submitting companies to the competition.

Company officials collected the award at a gala in Brussels on Tuesday night.

PBKM is the biggest stem cell bank in Poland and for 15 years has been involved in the collection, preparation and maintenance of stem cells.

WSE CEO Marek Dietl told PAP during the gala that the competition is aimed to show the strength of the European economy through the perspective of small and medium-sized companies listed on European markets. "The WSE is a hub for small and medium-sized companies. We list more companies than Deutsche Boerse and they are mainly medium-sized firms, according to European standards," he said.

A total of 12 companies were nominated in four categories, including another Polish firm, a convenience supermarket chain Dino, which did not receive an award.

Dietl stressed that despite being much smaller than Deutsche Boerse, the WSE had a comparable number of nominations, which he considered a success.

PBKM CEO Jakub Baran told PAP that he was pleasantly surprised by his company's victory and said that in his view PBKM is still a small company. "This is despite the fact that we are a big (stem cell - PAP) bank in our small industry. We compete with more than 100 entities in this sector of the European market. The number is relatively small compared to other industries, but it is still a niche market."

Only companies which had their Initial Public Offering (IPO) in 2016-2017 and the value of their stock subsequently increased could enter the competition. Additionally, the market capitalisation of such a company could not exceed EUR 1 bln.