DZP Advises Arlen on IPO on the Warsaw Stock Exchange

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DZP has advised Arlen and its majority shareholder A.T. Fundacja Rodzinna on the company’s initial public offering and admission to trading on the main market of the Warsaw Stock Exchange.

Dom Maklerski Navigator, Pekao Investment Banking, and Bank Polska Kasa Opieki–Biuro Maklerskie Pekao supported the IPO.

Arlen is a Polish manufacturer of specialist protective clothing and uniforms for the military and uniformed services, operating at the intersection of the defense sector and advanced textile technology.

According to DZP, valued at over PLN 270 million, the offering ranks among the largest IPOs of a private company in the WSE’s history. On its first day of trading, Arlen’s shares rose nearly 7% above the IPO price. It was also just the second IPO on the WSE main market in 2025.

The DZP team included Partners Maciej Zajda and Beata Cieszynska, Counsel Maciej Goszczyk, Associates Margarita Kobojek, Katarzyna Wojcik, Michal Nita, Julia Lysik, Klaudia Skubiszak, Maria Szczurek, and Magdalena Stepien, and Paralegal Pawel Tarnowski.