With an ‘exceptional combination of expertise, legal skills and a business-oriented approach', the capital markets team at Baker McKenzie Krzyzowski i Wspólnicy Sp.k. frequently coordinates with the firm’s banking and finance, tax and M&A practices to provide major financial institutions and private equity funds with an all-encompassing offering. This includes daily advice on investor relations and corporate governance mandates, implementing stock option plans and advising on the regulatory aspects of public trading. Marcin Chyliński heads up the ECM side of the practice, while Michał Głowacki chairs the DCM-focused group. The ECM group provides support with IPOs, secondary offerings, private placements and public M&A transactions, while the DCM team handles Eurobonds, EMTN programmes, convertible and exchangeable bonds, and green bonds. Katarzyna Grodziewicz is another core member of the team, with particular expertise public and non-public issuance of debt securities.

Clifford Chance, Janicka, Kruzewski, Stosio i wspólnicy spólka komandytowa boasts a strong DCM and ECM offering; the former includes support on all types of bonds and securities, while the latter part of the practice encompasses advice on the public offering of shares, which often includes cross-border elements. Key members of the group include Miłosz Gołąb, who is skilled in the issuance of debt securities, Grzegorz Namiotkiewicz, who specialises in DCM work and has advised both issuers and arrangers in mandates surrounding Eurobonds and domestic bonds, and Jarosław Lorenc, who has expertise in securitisation law and capital markets regulations.

Greenberg Traurig Nowakowska-Zimoch Wysokinski Sp. k boasts ‘extensive experience' in expertly handling all phases of domestic and international securities transactions. The group’s offering includes advice on bond offerings, takeovers, delistings, and IPOS and secondary offerings. Rafał Sieński sits at the helm of the practice, and he is ably supported by Paweł Piotrowski, who is lauded as ‘one of the most experienced capital markets specialists on the local market'; both lawyers exhibit expertise in the public and private offerings of equity and debt securities. DCM specialist Andrzej Wysokiński is another key member of the practice, as is Łukasz Pawlak, who is particularly active in the regulatory space, and Daniel Kaczorowski, who advises clients on bond offerings.

White & Case M. Studniarek i Wspólnicy - Kancelaria Prawna sp.k. is well equipped to handle major ECM and DCM mandates across the Polish and broader CEE markets. This offering includes support with IPOs, secondary offerings and traditional bond issuances, as well as EMTN programmes, high-yield bonds and mortgage covered bonds. Practice head Marcin Studniarek advises both issuers and banks on cross-border transactions. He is ably supported by Rafał Kamiński, who frequently handles public-to-private deals, Bartosz Smardzewski, who is notably strong in DCM mandates, and Monika Dużyńska, who is strong in the ECM space.

A&O Shearman has notable expertise in DCM mandates, both domestically focused and internationally, with an offering that encompasses advice on the entire spectrum of related matters, including Eurobond issuances, in which the team particularly excels. Its client base includes issuers, the Polish government and public sector entities. Łukasz Walczyna heads up the practice with expertise in assisting clients with their debt, covered bonds, regulatory capital issuances and structured finance transactions; he is lauded for his ‘extensive experience, especially in the DCM market’.

The ECM and DCM teams at CMS benefit from the firm’s wide expanse of international offices, enabling the smooth coordination of multi-jurisdictional projects. On the ECM side of the practice, the group supports clients with their IPOs, secondary public and and private placements and delistings, while the DCM team advises issuers, investors, investment banks and financial institutions on bonds, bank securities, covered bonds and bills of exchange. Having joined the firm from Deloitte Legal, Gizicki i Wspólnicy sp.k. in March 2024, Ryszard Manteuffel now heads up the ECM practice, within which the chair of the M&A practice, Sławomir Czerwiński, is also a key name. Michał Śmiechowski sits at the helm of the DCM team, and leader of the banking and finance group Michał Mężykowski is also active in this space.

The ‘experienced’ team at DLA Piper Giziński Kycia sp.k. has expertise in IPOs and private placements, and sectors of activity for the team include construction and manufacturing, retail, media, tech and e-commerce, and insurance. With ‘extensive transactional experience’, Jakub Domalik-Plakwicz spearheads the practice with a focus on ECM work, and he is ably supported by Rafał Kluziak , who is especially skilled in public to private M&A transactions, as well as capital market regulatory issues.

The ‘superb team of capital markets specialists’ at Rymarz Zdort Maruta boasts notable expertise in ECM work, with an active practice advising on Polish and international IPOs, secondary offerings and private placements, as well as rights issues and accelerated book-building processes. It also has DCM expertise, and the team coordinates with the firm’s banking and finance practice to support clients with bonds and convertible notes. Filip Leśniak chairs the department; Leśniak’s client roster includes international and domestic investors, and public and private companies. Former co-head Ewa Bober departed the firm.

The capital markets team at act BSWW legal & tax is jointly led by Piotr Wojnar and Piotr Smołuch, who focus on ECM and DCM mandates respectively, and the department ‘stands out with its blend of local expertise and international reach’. On the equity side of the practice, the firm is adept at advising on capital raising and buyouts, with clients including entrepreneurs and businesses. On the debt side, the practice assists with bonds-related matters, including bonds convertible into shares and private placements.

The team at CK LEGAL Chabasiewicz Kowalska i Wspólnicy has wide-ranging expertise, including knowledge on IPOs, SPOs and stock exchange disclosure obligations, as well as delisting processes, bonds and bond issues programmes, and bond collateral management. With a specialism in introducing securities the the WSE, Anita Gwóźdź sits at the helm of the department, while founding partner Wojciech Chabasiewicz remains a key member of the practice with ‘extensive expertise in stock exchange matters’.

The capital markets team at Dentons advises international issuers from a range of sectors, as well as investment banks and other financial institutions. The team boasts five offices across the CEE region, and is therefore well equipped to support its clients on cross-border mandates. Jakub Celiński heads up the department and Paulina Galewska is another notable team member who acts for both listed and private companies.

Capital markets regulation work and representing clients before Polish regulatory authorities are key areas of expertise for the team at Domanski Zakrzewski Palinka, for whom public companies and financial institutions are notable clients. The department is also experienced in IPOs, secondary share offerings and issues of bonds and convertible securities. Practice head Andrzej Foltyn is skilled in management and employee option programmes, and he is ably supported by Maciej Zajda, who was elevated to the partnership in July 2024, and Rafał Grochowski.

DWF Poland Jamka Sp.k's client base includes public companies, institutional investors and capital market institutions. The practices offers ‘top-tier legal advice' regarding IPOs, and it has notable expertise in debt securities law, equity offerings and structured finance. Key senior members of the team include managing partner Michał Pawłowski, Filip Urbaniak, who brings expertise in public offerings of shares and bond issue programmes; and Tomasz Kaczmarek.

GESSEL Attorneys at Law is sought after by a variety of investment banks, brokerage houses and public companies for both ECM and DCM mandates. IPOs, SPOs, FPOs and public offerings all fall within the team’s expertise.The practice is co-led by Leszek Koziorowski and Krzysztof Marczuk, who specialises in proceedings before the Polish Financial Supervision Authority. Both Marczuk and Magdalena Szeplik are praised as ‘exceptional lawyers’. 

Gide Loyrette Nouel is well equipped to handle a range of DCM-related mandates for issuers, investors, investment banks and other financial institutions. It also boasts expertise in ECM matters, including in IPOs and delistings, rights offerings and public takeovers. Paweł Grześkowiak sits at the helm of the department, and he is ably assisted by Dawid Van Kędzierski.

At Linklaters, the capital markets group is housed within the firm’s wider corporate and M&A department. Szymon Renkiewicz heads up the ECM side of the practice, which often coordinates with the firm’s banking and finance team, as well as the financial regulatory group. Renkiewicz has expertise in IPOs, delistings, SPOs and bond offerings.

Schoenherr Halwa Okoń Chyb sp.k has a strong focus on public offerings and IPOs for clients in the IT, new technologies and gaming industries, and it frequently handles cross-border transactions and bonds issue programmes. Paweł Halwa and Szymon Okoń jointly spearhead the practice following Okoń’s arrival from SSW in February 2024 alongside Tomasz Kwaśniewski at the end of 2023.

For the practice at SSW, the gaming, IT and new technologies industries are key areas of focus. Its offering includes assistance with IPOs on the ECM side, and bond issuances and programmes on the DCM side. Polish and English-qualified Mateusz Chmielewski is a key name to note in both of the aforementioned areas. Monika Szczotkowska joined from CMS in March 2024, and Piotr Grabarczyk arrived from WKB Lawyers at the beginning of 2024, while Szymon Okoń and Tomasz Kwaśniewski both joined Schoenherr Halwa Okoń Chyb sp.k in December 2023.

The ECM practice at WKB Lawyers is experienced in assisting companies with public offerings and flotations on the Warsaw Stock Exchange, as well as tender offers and take-private processes. On the DCM side, the team offers support with bond issues, including advising mortgage banks on public and private covered bond issues, as well as securitisations. Warsaw-based Agata Szczepańczyk-Piwek and Marta Midloch in Poznań jointly chair the department.

The capital markets team at Olesinski & Wspolnicy is well equipped to handle IPOs, SPOs and private placements, bonds issues and buy-back programmes, ESOPs and a wide range of regulatory mandates. Michał Bogacz sits at the helm of the practice with a client roster consisting of Polish and international clients, and he is ably supported by Cyryl Szudra.