July 28, 2017
Weil acted as legal counsel on issues of Polish law to J.P. Morgan Securities plc, Bank of America Merrill Lynch, and UBS Investment Bank, acting as global coordinators and joint bookrunners, as well as Bank Zachodni WBK S.A. and PKO BP Securities, acting as joint bookrunners and co-offering agents, in connection with an initial public offering of Play Communications S.A., with its registered seat in Luxembourg (the Play), the 100% owner of the PLAY mobile operator, P4 sp. z o.o., Poland’s second largest mobile phone operator by number of subscribers and one of Europe’s fastest growing telecom companies.
Weil advised on the IPO of the shares in Play addressed to retail investors, eligible employees, and institutional investors in Poland as well as to selected international institutional investors outside of Poland, including qualified institutional buyers in the United States under Rule 144A, as well as in connection with the admission and introduction of the shares in Play to trading on the regulated market maintained by the Warsaw Stock Exchange (WSE).
The total value of the IPO exceeded $1.1 billion, and the capitalization of Play amounted to approximately $2.5 billion. Save for privatization-related offerings, the Play IPO is the biggest initial public offering of shares listed solely on the WSE to date.