Capital Market

Initial public offering (IPO)

The decision to go public requires careful consideration and planning. Both new and existing shares can be subject to an IPO. Yet there is a number of conditions that a company must fulfil. The entire process requires professional legal assistance – there is no room for error here!

What do we offer?

  • Legal due diligence to identify potential legal risks associated with the company and its debut on the Warsaw Stock Exchange.
  • Legal advice on structuring the offering and contribution to project scheduling.
  • Drafting resolutions of the Shareholders’ General Meeting on share issue, dematerialisation, listing and admission to trading on the regulated WSE market, resolutions on amending and adapting the Articles of Association to regulated market requirements, as well as other IPO-related corporate resolutions.
  • Preparing corporate documents related to the adoption of the Good Practices of Companies Listed on the WSE and required by law for the operation of a public company listed on a regulated market.
  • Advice on engaging other advisors and subcontractors required by the company in the IPO process, including assistance in negotiating comfort letters and engagement letters with auditors and the scope of financial disclosures in the prospectus to be ticked and tied by a certified auditor.
  • Preparing and providing legal oversight of the Issuer’s share issue prospectus and representing the Issuer in the prospectus approval proceedings before the Polish Financial Supervision Authority (KNF), including holding the “master copy” of the prospectus.
  • Legal advice on the preparation of prospectus supplements.
  • Legal advice on the management of the offering, including engagements with analysts, investors and the media, reviewing offering materials for legal compliance (IPO presentation, analytical presentation, pilot fishing and roadshow presentations, advertising materials) and preparing the necessary disclaimers.
  • Drafting and providing legal advice on lock-up agreements.
  • Legal advice on company-initiated share registration proceedings before the National Depository for Securities (KDPW) and proceedings before the Warsaw Stock Exchange on the listing and admission of the company’s shares to trading on the regulated WSE market.
  • Legal advice in court proceedings for entry of new share issue and amendments to the Articles of Incorporation in the National Court Register (KRS).
  • Advice on compliance with stock exchange disclosure obligations by the company, members of governing bodies and significant shareholders.

Why CK Legal?

  • We help you raise capital.
  • We help you gain broader access to capital markets.
  • We help you obtain the status of a listed company.
  • We have the know-how to ensure the liquidity of shares.
  • We help you exit an investment by selling shares in an offering (for a shareholder).

We serve a wide range of clients: issuers and companies headed for the listing on the main stock exchange market, significant shareholders of companies planning to go public, banks and brokerage houses.

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