Wierzbowski Eversheds advised Capita IRG Trustees Ltd, which organized the process of listing in London for Work Service and serves as depositary in the structure.

“Our law firm provided comprehensive support to Capita IRG Trustees Ltd in connection with the transaction,” said Dr Krzysztof Haladyj, a partner at Wierzbowski Eversheds. “It was a highly complicated project, requiring solutions to numerous issues at the intersection of Polish and English regulations connected with the dual listing of Work Service on the London Stock Exchange.”

According to Haladyj, work on creation of the complex structure under which a Polish company could list in London using depositary interest instruments lasted over a year. A model was developed which could be used by other Polish companies seeking access to a broader group of investors and increased liquidity in London. “We are happy that we had the opportunity to work on such a complex and pioneering project,” said Haladyj.

The London office of Eversheds was also involved in the work on the dual listing of Work Service.

Work Service entered the London Stock Exchange on 18 February 2016 via a technical dual listing. The company’s shares are listed on both the Warsaw Stock Exchange and the London Stock Exchange. Work Service is the first Polish firm to enter the London market directly without using depositary receipts. In this manner, the company wishes to open up to global investors and strengthen its position in Europe.

The Work Service Group has operated since 1999 and is the largest provider of comprehensive HR services on the Polish market. It operates through a network of branches throughout Poland and also in 11 other European countries. It is the first company from the HR services sector listed on the Warsaw Stock Exchange and a key partner for over 3,000 of the largest companies in Poland and Europe.