Kochanski Dual Listing Lse Gpw

Historic Dual Listing of a Polish Company on the WSE and the LSE

We completed the first dual listing in the history of the Polish stock exchange, with a WSE-listed company being listed simultaneously on the LSE.

Kochański & Partners completes the first Polish dual listing of Work Service S.A.

Work Service S.A. was admitted to the standard listing segment of the Official List of the UK Listing Authority, with all its shares being admitted to trading on the LSE Main Market.

The services provided by Kochański & Partners included comprehensive legal advice on:

  • transaction structuring,
  • preparation of the summary document,
  • correspondence management,
  • providing the required documents and explanations to the UK regulatory authorities,
  • negotiating agreements,
  • preparing legal opinions for Euroclear (UK central securities depository) and Capita IRG Trustees Limited (depositary).

­­­­­­­­­­­­­­­­­­­­­­­­­­­Dual listing in practice

The technical dual listing was collectively designed, project-managed and coordinated by Kochański & Partners and Pinsent Masons (UK), with additional input from ProPrimo Consultants.

The dual listing of a Polish company through depositary interests on the London Stock Exchange is the first of its kind, and we have seen a greater amount of interest from Polish companies seeking to follow in Work Service’s footsteps, as this gives Polish companies access to a large pool of new capital and investors, and increases their visibility on international markets. The procedure took more than 3 months, which is not long considering the pioneering nature of the project, the requirements to prepare the summary document and provide explanations to the UK regulatory authority regarding the differences between the structures of the Polish and UK capital markets”- says Piotr Kochański, our Managing Partner.

First dual listing in Poland

We would even say that we are happy that the process took so little time, if you consider that the company, in order to apply for the admission of its shares to trading on the London Stock Exchange, had to meet a number of criteria defined in the Listing Rules – one of these being that 25% of the company shares must be in “public hands”.

We are proud that we have contributed to the first ever dual listing of a Polish company through depositary interests on the London Stock Exchange.

We offer a range of opportunities to companies interested in raising capital, such as listing on foreign stock exchanges, accessing investment and private equity funds. We are experienced and well versed in capital markets. We boast an extensive network of international contacts, which greatly facilitates access to capital, enabling us to most effectively tailor the structure and terms of financing to the specific needs of companies seeking this capital” – says Paweł Mardas, Partner.


Read also about PRE-IPO – the preparatory stage for a debut on a foreign stock exchange.

Find out how we can help you raise capital abroad.

Are you interested in dual listing or financing for your business?

Contact us:

Paweł Mardas

Szymon Balcerzak

Contact us:

Szymon Balcerzak

Szymon Balcerzak

Partner, Head of Transaction Advisory and Analysis

+ 48 602 672 947