Greenberg Traurig has advised Diagnostyka on its initial public offering and admission to trading on the regulated market of the Warsaw Stock Exchange. White & Case advised the underwriters. Baker McKenzie advised Diagnostyka's majority shareholder Mid Europa.
Citigroup Global Markets Limited, Bank Handlowy w Warszawie – Biuro Maklerskie Banku Handlowego, Jefferies, Santander Bank Polska – Santander Biuro Maklerskie, and Banco Santander were the joint global coordinators and joint bookrunners. Trigon Dom Maklerski, Wood & Company Financial Services, Spolka Akcyjna, Oddzial w Polsce, Pekao Investment Banking, and Bank Polska Kasa Opieki – Biuro Maklerskie Pekao were the joint bookrunners.
According to Greenberg Traurig, the IPO raised nearly PLN 1.7 billion and implies a total market capitalization of over PLN 3.5 billion for the company. According to White & Case, "the IPO share price was set at the maximum price of PLN 105 per share, with a final offering of 16,147,124 shares, representing 47.83% of Diagnostyka's share capital. The offering consisted solely of existing shares sold by LX Beta, an entity controlled by MidEuropa III Management Limited, Diagnostyka's majority shareholder, which belongs to MidEuropa, a leading private equity investor in Central Europe."
Diagnostyka Group provides laboratory testing and diagnostics services through a network of more than 1,100 collection points, 156 diagnostic labs, and 19 diagnostic imaging centers across Poland. Having operated in the market for 27 years, the group serves over 20 million patients annually.
The Greenberg Traurig team in Warsaw included Senior Partner Lejb Fogelman, Partners Pawel Piotrowski and Rafal Sienski, Counsel Agnieszka Stopinska, Senior Associate Grzegorz Socha, and Associate Kamil Nagawski as well as further team members in London.
The White & Case team in Warsaw included Partners Marcin Studniarek and Rafal Kaminski, Local Partner Monika Duzynska, and Associates Adam Marszalek, Dawid Ksiazek, and Klaudia Pacocha as well as further team members in London.
The Baker McKenzie team in Warsaw included Partner Filip Uzieblo, Counsels Marcin Plonka and Michal Maj, Senior Associate Monika Michalowska, Associates Krzysztof Regucki and Marcin Pommersbach, and Junior Associates Jakub Demus and Julia Gorczyca as well as additional lawyers in London.
