In the world of technology companies, the transition from the alternative market to the main floor of the stock exchange is often seen as a rite of passage. However, in the case of Wrocław-based Scanway, the submission of a full prospectus to the Polish Financial Supervision Authority is not just a formality, but a precisely planned strategic move that reflects the maturation of the Polish space sector.
The decision to debut on the WSE’s main market, planned for the end of the first and the beginning of the second quarter of 2026, is distinguished by a pragmatism that is rare at this stage. The company has opted for a so-called technical transition, forgoing a new share issue. This signals to investors that Scanway now has sufficient financial ‘runway’. This comfort was provided by last year’s entry of TFI PZU, which invested PLN 15.3 million, taking over 5% of the shares.
For Scanway, the change of trading floor is primarily a battle for institutional credibility. In the space and advanced industrial optics sector, where contracts are multi-year and international in nature, the company’s main market status is an important asset in negotiations with global players. Jędrzej Kowalewski, the company’s CEO, rightly points out that this transition will make it easier to access capital in the future if acquisition opportunities or the need to fund scalable projects arise.
The figures speak in the company’s favour. In the last quarter of 2025, Scanway dominated NewConnect, generating 14% of the total market turnover. Such liquidity, with 358 listed entities, made the company a giant in the small backyard. The move to the WSE will allow Scanway to move beyond the local ‘growth’ spectrum and attract investment funds that bypass smaller trading floors for statutory reasons.
Scanway’s business model, based on two pillars – optical instruments for microsatellites and quality control systems for industry – seems immune to market cyclicality. While the space segment builds long-term value and margin, solutions for industry (Industry) provide ongoing monetisation of the technology.
In a broader context, Scanway’s success will be a test for the Warsaw Stock Exchange. The question is whether the WSE is ready to become a viable funding centre for European deep tech. If Scanway’s debut goes smoothly, it could become a catalyst for more companies in the space sector that have so far been wary of the rigid regulatory corset of the main market.
