11 05 2016

Czech bank Moneta completed its IPO and listing on the Prague Stock Exchange

Slaughter and May advised MONETA Money Bank, a.s. (formerly known as GE Money Bank a.s.), a leading retail and expanding SME bank in the Czech Republic, and GE Capital International Holdings Limited (GECIHL), the previously sole shareholder of Moneta and part of the GE group, on the initial public offering of the majority of Moneta's shares.


The Prague Stock Exchange has admitted Moneta’s shares (i) to conditional trading on its Prime Market with effect from 6 May 2016 and (ii) to official trading on its Prime Market with effect from 10 May 2016. As part of the IPO, 260,610,000 shares of CZK 1 each were priced at CZK 68 per share. An over-allotment option for up to 39,091,500 existing shares has been granted. Upon the over-allotment option being exercised in full, the offer size would be approximately CZK 20,379,702,000 and there would be a free float of approximately 58.65%. J.P. Morgan, Goldman Sachs and Citigroup acted as Joint Global Coordinators and joint bookrunners, and Wood & Company acted as Joint Lead Manager and Listing Agent. Weil, Gotshal & Manges advised Moneta and GECIHL on Czech law and Sullivan & Cromwell advised Moneta and GECIHL on U.S. law. Slaughter and May advised MONETA Money Bank and GE Capital International Holdings with a Corporate team led by Andy Ryde (partner, in picture), asssited by Nick Johnston (associate) and Daniel Whitelock (associate); on IP/IT matters acted Duncan Blaikie (associate) and Mark Ellis (associate); while on Tax law acted Gareth Miles (partner), Michael Lane (partner) and Rose Leyland (associate); and on Financing aspects acted Philip Snell (partner) and Teresa Campbell (associate). Involved fees earner: Andy Ryde - Slaughter and May; Nick Johnston - Slaughter and May; Daniel Whitelock - Slaughter and May; Mark Ellis - Slaughter and May; Duncan Blaikie - Slaughter and May; Gareth Miles - Slaughter and May; Michael Lane - Slaughter and May; Rose Leyland - Slaughter and May; Philip Snell - Slaughter and May; Teresa Campbell - Slaughter and May;

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