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Capital Markets

Hungary

Capital markets activity in Central and Eastern Europe is picking up, with the key capital markets in the region developing at a strong pace, particularly with respect to offers of shares and bonds, and dual-listings. This brings both new opportunities and new challenges for companies and governments.

Issuers, investment banks, multilateral financial institutions, private equity funds and governments look to the CMS CEE Capital Markets Team to guide them through these rapidly evolving markets and advise on increasingly innovative and complex financing solutions. CMS connects you to in-depth expertise in your local markets, as well as the know-how and expertise gained from our experiences working in the more mature markets of Western Europe and the United States.

Our Capital Markets Team offers the full range of transactional and advisory services for all aspects of capital markets, derivatives, structured products and structured finance transactions – from complex equity and debt securities offerings and dual-listings on European, North American or other Stock Exchanges, through to securitised derivatives and structured products, as well as on a wide range of regulatory matters (Prospectus Directive, MiFID, EMIR and so on). The team has worked on some of the most ground-breaking capital markets transactions in the EU (e.g. Telefónica’s successful IPO of €1.45 billion on the Frankfurt Stock Exchange) and in CEE, where we worked on some of the largest IPOs on the Warsaw Stock Exchange, including the IPOs of the largest independent postal operator in Poland InPost and luxury goods brand Wittchen. The CMS International Capital Markets practice comprises more than 100 lawyers across over 60 offices worldwide.

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"The quality of their work and experience in international agreements is impressive."

Chambers Europe, 2018
April 2018
High­lights of ex­per­i­ence in Cap­it­al Mar­kets in Hun­gary
Wizz Air in re­la­tion to the Hun­gari­an as­pects of Wizz Air’s ini­tial pub­lic of­fer­ing and list­ing on the Lon­don Stock Ex­change.Ito­chu, a ma­jor Ja­pan­ese en­ergy com­pany on the ac­quis­i­tion of a stake in a re­gion­al en­ergy ef­fi­ciency com­pany EETEK Hold­ing, in­clud­ing due di­li­gence, struc­tur­ing, ne­go­ti­at­ing the trans­ac­tion doc­u­ments and the share­hold­ers’ agree­ment; and on the con­tem­plated swap trans­ac­tion of its Hun­gari­an in­vest­ment in EETEK Hold­ing in­to a Cyp­ri­ote hold­ing com­pany and the sub­sequent pass­port­ing and IPO on the Warsaw Stock Ex­change.HYPO NOE Gruppe Bank on the com­pre­hens­ive fin­an­cial con­sol­id­a­tion of the Hun­gari­an loc­al mu­ni­cip­al­it­ies, which was ini­ti­ated by the Hun­gari­an Gov­ern­ment. CMS’ role in­volved the amend­ment of sev­er­al mu­ni­cip­al bond fin­an­cings and ex­tens­ive ne­go­ti­at­ing with the Hun­gari­an State in con­nec­tion with the de­tails of the debt-as­sump­tion mech­an­ism.Sun Cap­it­al on the ac­quis­i­tion of Pan­nunion Plc. (re­named to Pac­cor, then Cov­er­is), a lis­ted com­pany on the Bud­apest Stock Ex­change, in­clud­ing a man­dat­ory takeover, squeeze-out and del­ist­ing, as well as on the en­tire post-ac­quis­i­tion mer­ger pro­cess of Pac­cor Hun­gary in­to the ac­quir­ing com­pany.Hun­gari­an De­vel­op­ment Bank on a EUR 500m bond is­sue. Bonds have been on the Lon­don Stock Ex­change.Please down­load the print ver­sion be­low.

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June 2019
CMS in Hun­gary 2019
CMS’ Bud­apest of­fice has been act­ive in Hun­gary since 1989. Our award-win­ning team of 75 law­yers ad­vises na­tion­al and in­ter­na­tion­al or­gan­isa­tions on the full range of com­mer­cial law. Down­load our bro­chure to find out more about us.
April 2018
High­lights of ex­per­i­ence in Cap­it­al Mar­kets in Hun­gary