DZP has advised Arlen and its majority shareholder, A.T. Fundacji Rodzinnej, on an initial public offering and admission to trading on the Warsaw Stock Exchange's main market. The value of the offering exceeded PLN 270 million, making it one of the largest IPOs of a private company in the history of the Warsaw Stock Exchange. On their debut, the shares gained nearly 7% over the IPO price. At the same time, it was only the second IPO carried out on the WSE main market in 2025.
Arlen is a leading Polish manufacturer of specialist protective clothing and uniforms for the uniformed services and military, operating at the intersection of the defence industry and advanced textile technologies. The debut on the WSE not only opens a new chapter in the company's history, but also advances the representation of the security sector on the public market.
DZP’s team provided comprehensive legal support throughout the process, from structuring the offering, through a due diligence and preparation of the prospectus, to regulatory advice, corporate governance, labour and environmental issues, and representation before the Polish Financial Supervision Authority. The Law Firm's experts also advised on preparations for operating as a public company and on investor relations strategies.
The advice was rendered by lawyers from the Capital Markets and Financial Institutions Practice – Maciej Zajda and Margarita Kobojek, supported by Maciej Goszczyk and Katarzyna Wójcik. Sectoral regulatory support was provided by members of the defence and space industry team, Beata Cieszyńska and Paweł Tarnowski. During the due diligence, the client was also supported by lawyers from other practices: Michał Nita (IP&TMT Practice), Julia Łysik (Real Estate Practice), Klaudia Skubiszak and Maria Szczurek (environmental protection team) and Magdalena Stępień (Labour Law and Social Security Practice).
Arlen was supported in the preparation and conduct of the public offering by the investment firms Dom Maklerski Navigator, Pekao Investment Banking and Bank Polska Kasa Opieki S.A. – Biuro Maklerskie Pekao, which provided, inter alia, investment services and coordination of the prospectus preparation and share placement process.