White & Case has advised Delaware-based developer and publisher of video games Huuuge on its PLN 1.67 billion initial public offering on the regulated market of the Warsaw Stock Exchange. Rymarz Zdort and Baker & McKenzie advised joint global coordinators and joint bookrunners J.P. Morgan AG, Credit Suisse Securities, and Sociedad De Valores S.A., and lead manager Ipopema Securities S.A.
According to White & Case, the IPO consisted of a primary component of PLN 565 and a secondary placement of PLN 1.1 billion. According to the firm, Huuuge and its shareholders sold 33.32 million shares at PLN 50 per share, which was the maximum price set in the IPO.
In addition, according to White & Case, “Huuuge is the first US incorporated company to list its shares on the Warsaw Stock Exchange and conduct an international offering to Polish and international investors under Regulation S and to US-qualified institutional buyers under Rule 144A, utilizing recent amendment to the Warsaw Stock Exchange Listing Rules allowing listing of shares offered in reliance on Category 3 of Regulation S and Rule 144A.”
The White & Case team included Warsaw-based Partner Marcin Studniarek, Counsel Bartosz Smardzewski, and Associates Monika Duzynska, Wanda Kudrycka, Dawid Ksiazek and Michal Truszczynski, London-based Partner Jill Concannon and Counsel Doron Loewinger, and Silicon Valley-based Partner Mia Gez.
Rymarz Zdort’s team consisted of Partners Marcin Chylinski and Ewa Bober, Counsel Filip Lesniak, and Associates Pawel Mazur and Marta Rykalovska.