Rymarz Zdort has advised Pepco Group N.V. on Polish law matters related to its IPO and the admission and introduction of its shares to trading on the regulated market of the Warsaw Stock Exchange. Clifford Chance reportedly advised joint global coordinators Goldman Sachs Bank Europe SE and J.P. Morgan A.G.
Pepco owns and operates a multi-format, pan-European variety discount retail business under the Pepco, Dealz, and Poundland brands, with 3246 stores located across 16 countries. The company’s stores offer apparel and homeware-led general merchandise, including seasonal products and FMCG products.
According to Rymarz Zdort, “Pepco's offering and listing on the Warsaw stock exchange is the largest IPO in Poland in terms of value in 2021 thus far. Based on the final offer price, the market capitalization of the company amounted to PLN 23 billion (EUR 5 billion). The offering involved the sale of 92.466.602 existing shares and generated gross proceeds of approximately PLN 3.7 billion (EUR 0.8 billion). The offering was conducted in accordance with U.S. Rule 144A and was directed at retail investors and institutional investors in Poland. The shares in Pepco were also offered to selected foreign institutional investors (within and outside of the United States).”
Rymarz Zdort’s team included Partners Marcin Chylinski, Ewa Bober, and Robert Krasnodebski, Counsels Filip Lesniak and Marek Kanczew, and Associates Marta Rykalovska, Ada Zahorodna, Tomasz Wieczorek, and Kacper Skowron.