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Initiating Coverage on Morizon S.A.

Morizon S.A. (MZN) is the No 1 independent Polish publisher of web services and search engines in the area of real estate with >1m offers. The company has >900k unique users and works together with c. 4,000 registered real estate agents and developers. After the acquisition of FinPack Sp. z.o.o in April 2016, Morizon has become the first one-stop-shop in Poland, where clients can place and search for real estate offers, check their credit score and get the best possible mortgage loan.

Underlying
Morizon S.A.

MZN Property SA, MZN Property Group SA, is a Poland-based company active in the information technology (IT) sector. The Company manages an Internet portal morizon.pl, an advertising service in the real estate industry. Morizon.pl allows clients to present, search, trade and loan of flats and other real estates. Through its portal the Company also publishes content related to the real estate sector. The Company operates through subsidiary, such as Media Nieruchomosci SA, Melog.com Sp, Virtal Sp z o o and Buys Finpack Sp z o o.

Provider
East Value Research
East Value Research

​We are a leading, management-owned research boutique with a focus on companies from Emerging Europe. Our role is that of an intermediary between companies on the one hand and investors on the other. Our research products are directly distributed to more than 200 mutual and pension funds, family offices and independent asset managers from Central and Eastern Europe, the German-speaking region, Scandinavia, France and UK. In addition, we publish our reports on platforms such as Bloomberg, Thomson Reuters, Capital IQ and PAP, thus ensuring that they are available to institutions from around the world. By organising roadshows and conferences, we provide investors with direct access to corporate decision makers. Our team consists of professionals with long capital market experience in both Western Europe and the CEE region.

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