Menu
RSS

CMS and DLA Advise on Enter Air IPO Featured

CMS and DLA Advise on Enter Air IPO CMS and DLA Advise on Enter Air IPO

CMS has advised IPOPEMA Securities, the offering agent and the bookrunner, and Bank Zachodni WBK, the manager of the offering, on the December 14 IPO of Enter Air — the largest charter airline in Poland and one of the largest in the region. DLA Piper advised Enter Air on the offering. The value of funds raised through the IPO amounted to nearly PLN 100 million, to be used to refresh and expand the air carrier fleet with 6 new aircraft. The Company issued 7 million new shares at PLN 14 per share.

Enter Air’s offering was addressed to individual investors, authorized entities — i.e., the company’s employees and associates — and institutional investors. Approx. 1.5% of issued shares were allocated for individual investors and authorized entities, while the remaining shares were allocated to institutional investors.

"We are proud that we could support Enter Air — the first Polish airline that is consistently profitable, in its IPO,” said CMS Partner Michal Pawlowski, who heads the CMS capital markets practice in Warsaw. "We have known Enter Air Group for five years and we are very impressed with its development, which is dynamic, but at the same time conscious and responsible. Today’s debut shows that well-managed and profitable companies, who have ambitious expansion plans, can count on the interest of stock market investors."

Pawlowski’s team included Of Counsel Rafal Wozniak and Associate Magdalena Trzepizur.

The DLA Piper team advising Enter Air included Country Managing Partner Krzysztof Wiater, Senior Associate Grzegorz Godlewski, and Associate Wojciech Kalinowski.

This is the third debut on the Warsaw Stock Exchange this quarter in which CMS was involved, following the November IPO of the Wittchen luxury accessory and leather goods retailer (reported by CEE Legal Matters on November 9, 2015), and the October IPO of of the Inpost SA independent postal operator (reported by CEE Legal Matters on October 13, 2015).

Last modified onMonday, 04 January 2016 15:58
back to top

Categories

News By Practice Area

Legal Analysis By Country

Legal Analysis By Practice Area

About Us

Contact Us