CMS advised Maxcom, a key manufacturer and distributor of feature phones, mobile phones designed for seniors and extreme sports, on its Warsaw Stock Exchange debut. The IPO took place on 30 June 2017.
Maxcom’s public offering included the issue of 660 000 new shares and sale of 204 000 existing shares by the current shareholders. The shares were offered at PLN 55 for both individual and institutional investors. Approximately 10% of the securities offered were designated for individual investors.
The IPO will provide the company with approximately PLN 37 million that will be used to fund Maxcom’s growth strategy as well as the development of new models of feature phones and smartphones, including an innovative smartphone for seniors. The additional capital will also allow for further expansion in Europe that is to be achieved by means of acquiring foreign mobile phone distributors and opening own dealerships.
The team that advised on the IPO included Rafał Woźniak PhD, advocate and counsel and Magdalena Trzepizur, advocate and associate.