Bird & Bird advises Plaza Centers N.V. on Warsaw stock exchange listing


International law firm Bird & Bird has been advising Dutch based company, Plaza Centers N.V on the listing of its shares on the Warsaw Stock Exchange (WSE). The firm also advised Plaza Centers N.V. on the admission of its ordinary shares to the Official List and to trading on the London Stock Exchange last November, which helped value the company at £514 million. Plaza Centers N.V. is now the first Dutch company with a dual listing on the London Stock Exchange and the WSE.

Plaza Centers N.V. develops shopping and entertainment centers in Central and Eastern Europe and India. Plaza Centers N.V. is an indirect subsidiary of Elbit Medical Imaging Ltd. ("EMIL"), an Israeli public company whose shares are traded on both the Tel Aviv Stock Exchange in Israel and the NASDAQ Global Market in the United States.

A team of Dutch based corporate lawyers has been advising Plaza Centers N.V. on all Dutch law aspects of this listing. Steven van der Waal, corporate partner, and senior associates Ingrid de Haan (corporate law), Lous Vervuurt and Philip Phoelich (banking and securities laws) formed the team.

Commenting on Bird & Bird’s involvement in the deal, partner Steven van der Waal said:

“Having advised Plaza Centers on their listing on the LSE last year, it was a pleasure to also support them on their listing on the WSE. The key challenge on this deal was to create an appropriate legal structure that would work in the highly regulated environments of three different jurisdictions. Major issues we had to address were the approval of the prospectus by the Dutch Authority for the Financial Markets and the sophisticated system that had to be designed for flexible settlement of Plaza Centers securities in both regulated markets. Bird & Bird has developed a track record of advising companies on IPOs in both regulated and unregulated markets and as such we were able to bring valuable experience to addressing these issues”.

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