Law firms were ‘proud’ and ‘thrilled’ to work on Waberer’s IPO
According to CEE Legal Matters, Lakatos, Koves and Partners (LKT) provided Hungarian law advice to Mid Europa Partners in relation to the IPO of Waberer’s International Nyrt. The legal specialist publication adds that White & Case acted as international legal advisor, and Shearman & Sterling and Kinstellar represented the mandated lead arrangers.
Trading at the Budapest Stock Exchange (BSE) in the shares of Waberer’s International, one of Europe’s biggest long-haul transportation companies, started on July 6 in the Equities Prime category. Priced at HUF 5,100 per share, and valued at HUF 90.2 billion, this transaction marks Budapest’s biggest stock market debut in nearly two decades. With this market capitalization, the company is the sixth largest on the Budapest bourse.
LKT’s team, comprising Péter Lakatos (managing partner), Pál Rahóty (counsel), Balázs Fazakas, Judit Zalán-Lipák, Balázs Kántor and Gyula Rátz (associates) advised on all Hungarian law aspects throughout the IPO process, including advice in relation to the preparation of the stock exchange prospectus and assistance in the regulatory approval and BSE listing processes, according to a statement LKT sent to the Budapest Business Journal.
“We are proud that our team was able to contribute to the successful listing of Waberer’s shares on the Budapest Stock Exchange,” said LKT lead partner Péter Lakatos. “We also helped to develop the Hungarian regulatory environment and practice to enable the implementation of recently developed market solution on the Budapest market. Our team’s diligence contributed to the timely completion of all legal steps in this complicated and time critical capital markets project,” he added.
Kinstellar, which describes itself as “Emerging Europe and Central Asia’s leading independent law firm”, acted as Hungarian legal counsel to Berenberg, Erste Group, Citigroup, and Renaissance Capital as joint global coordinators and joint bookrunners through the IPO, according to press release it sent to the BBJ.
The Kinstellar team was led by the Budapest office’s managing partner Csilla Andrékó, and managing associate and capital markets specialist Ákos Mátés-Lányi. “We are thrilled to have advised the joint global coordinators and joint bookrunners on this landmark transaction which represents a major milestone for Waberer’s strategic growth and may give a shot in the arm to the Hungarian market currently dominated by four blue-chip stocks,” said Andrékó.
Hungary CPI Drop Acknowledged at IMF/World Bank Spring Meeti...
Hungary to Address Future of Cohesion Policy During EU Presi...
AI may Save Hungarian Healthcare, Says Leading Doctor
Time Out Market to Open in Budapest Next Year
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.
