Weil, Gotshal & Manges LLP represented Polski Holding Nieruchomosci (PHN), a state-owned holding which is one of the largest (in terms of the market value of its real estate portfolio) owners and managers of commercial and residential real estate properties in Poland, as legal counsel on matters of Polish, UK, and US law in relation to its IPO. The IPO was addressed to individual and institutional Polish investors as well as certain foreign institutional investors, including qualified institutional buyers in the United States. The IPO was valued at PLN 238.6 million. Today the shares were introduced to trading on the Warsaw Stock Exchange (WSE). This is the first IPO and listing on the WSE in 2013. The State Treasury of the Republic of Poland sold 25% of the Company’s existing share capital.
Rafal Zwierz, the partner who led Weil’s team, commented, “Rendering legal advice in connection with an initial public offering of a company that was recently established through a consolidation of many independent entities presented us with many challenges. We feel very proud to have been able to overcome such challenges with the assistance of the company and other members of the project team. We were delighted to have once again been afforded the opportunity to participate in an important transaction for the Polish capital market.”
The Joint Global Coordinators as well as the Joint Bookrunners were represented by Greenberg Traurig, with K&L Gates providing certain Polish law advice to the managers on some aspects of the transaction. Baker & McKenzie advised the selling shareholder, i.e. the Polish State Treasury.
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