Norton Rose & Weil land $1.3bn Polish IPO
Norton Rose has lined up on one of the largest initial public offerings (IPOs) this year as Polish power utility company Tauron Polska Energia goes public in a $1.3bn (£867m) listing.
June 24, 2010 at 10:49 AM
2 minute read
Norton Rose has lined up on one of the largest initial public offerings (IPOs) this year as Polish power utility company Tauron Polska Energia goes public in a $1.3bn (£867m) listing.
Tauron is the second largest power utility company in Poland and one of the largest businesses in the country. The IPO was priced on 22 June.
The Norton Rose team was lead by Warsaw head Piotr Strawa and US corporate finance head Tom Vita.
Weil Gotshal & Manges acted for the underwriters that included: UBS, Unicredit, Merrill Lynch and ING, on the international side and domestic bookrunners BRE Bank and PKO BP.
Strawa said: "The IPO of Tauron will be one of the largest ever IPOs in the history of the Polish capital market. This is a strategically important transaction for the Polish government as it acts to address its budget deficit."
Vita said: "The deal has taken place during an extremely difficult period for many companies (and their major shareholders) considering IPOs."
The news follows Herbert Smith's role on what is set to be the world's largest IPO to date as the Agricultural Bank of China (AgBank) gears up to go public for an estimated $23bn (£15.5bn).
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