After a strong final quarter of last year, when CMS advised on the IPOs of companies such as InPost, Wittchen and Enter Air, in 2016 CMS’s Capital Markets team has been one of the most sought-after legal advisors for public offerings in Poland.
Michał Pawłowski, partner and head of the CMS Capital Markets Team, said: “The success of recent public offerings will hopefully result in more activity on the Polish capital market. The success of the two tenders that we advised on is a good signal for the coming months. It is also the best proof that companies with high potential and consistently implemented business strategies can count on investor confidence and successful development through the stock exchange.”
The total value of the IPO of i2 Development is expected to reach PLN 34 million. 1.7 million shares will be allocated to investors at a final price of PLN 20 each. In turn, the value of the debut of X-Trade Brokers amounted to PLN 188.6 mln, with 1.6 million shares offered to individual investors and 14.8 million to institutional investors.
“The growing interest of businesses and private equity funds in the so-called dual-track, i.e. simultaneous M&A and IPO, is of great importance for the Warsaw Stock Exchange,” adds Rafał Woźniak, Counsel in the CMS Capital Markets Team.
The CMS team’s increasing significance is confirmed by its listing in this year's prestigious Legal 500 ranking of the legal services market in Poland. The Legal 500 has classified the capital markets practice for the first time this year, and the CMS team has immediately been placed in Tier 2. The members of the team were also recommended for their work on capital markets, as well as in other fields, in rankings recently published by Chambers Global and Chambers Europe. Capital Market Team that joined CMS in autumn 2015, has done much to strengthen CMS in the area of IPOs, bond issues and withdrawals of companies from stock exchange trading.
The CMS team composed of Michał Pawłowski, partner and head of the team, Dr Rafał Woźniak, Counsel, and Magdalena Trzepizur, an associate specialising in capital markets law, worked on both debuts. On XTB transaction were also involved the CMS’s lawyers from Czech Republic (Helen Rodwell, partner in Prague office), Turkey (Alican Babalioglu, partner in Istanbul office), Spain (Luis Miguel De Dios, partner) and Portugal (Francisco Almeida, partner).
Additional information on i2 Development:
i2 Development is a group of companies that undertake commercial and residential investments in Wrocław. In 2012, the general contractor KPB Sp. z o.o. joined i2 Development, and in 2014 the architectural office - Chamielec Architekci Sp. z o.o. completed the rapidly growing group. In 2015 the companies formed the formal i2 Development Group, which carries out commercial and residential developments in the city centre and prestigious districts of Wrocław. A special purpose company, Concept Sp. z o.o. is responsible for interior design.
Additional information on DM X-Trade Brokers:
DM X-Trade Brokers S.A. was established in Poland in 2004. It is now one of the largest brokerage houses in Europe and has several branches in countries around the world. XTB provides products, services and technological solutions in the field of financial instruments trading. The company is currently planning expansion into Turkey and Latin America.