White & Case and Latham advise as Poland’s Play targets €1bn IPO

White & Case and Latham & Watkins are advising on Polish telecom company Play Communications’ initial public offering (IPO) on the Warsaw Stock Exchange.

Play, the second-largest mobile company in Poland, is aiming to raise as much as €1bn (£0.9bn) from the IPO, which values the company at €4bn (£3.5bn).

The company is expected to launch the IPO on 27 July, having first announced plans to go public in June.

White & Case is acting for Play, with a London-based team including global private equity co-head Ian Bagshaw, corporate finance partner Jill Concannon, capital markets partner Jonathan Parry, private equity partner Martin Forbes, tax partner Prabhu Narasimhan and employment head Nicholas Greenacre.

The firm is also fielding a team out of Warsaw led by Poland head of capital markets and M&A, Marcin Studniarek.

In 2014, the firm advised Play on a €870m (£767m) high yield bond issue, with Bagshaw and Concannon part of the firm’s team advising on the transaction.

Latham is advising the banks.

Long-term duo Bagshaw and Richard Youle were split up earlier this year when Youle left White & Case to join Skadden Arps Slate Meagher & Flom.

Youle had spent three years working with Bagshaw at White & Case and the pair were made co-heads of private equity at the firm in October 2015. Before that they were associates together at Eversheds in the 1990s.

Other recent IPOs include online food delivery service Delivery Hero’s €1bn (£875m) Frankfurt Stock Exchange listing, which saw Sullivan & Cromwell and King & Spalding advise Delivery Hero while Freshfields Bruckhaus Deringer acted for the underwriters.