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CEE Legal Matters Comparative Legal Guide: Capital Markets 2023 is Now Out!

CEE Legal Matters Comparative Legal Guide: Employment 2023 is Now Out!

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CEE Legal Matters is proud to introduce the latest in our Comparative Guides series. This one focuses on Capital Markets.

The CEE Legal Matters Comparative Legal Guide: Capital Markets 2023 guide offers an overview of key requirements for equity and debt offerings across the CEE region. It is intended to provide a high-level overview of the regulatory and listing regime (including regulated and non-regulated markets) and the typical offering process for equity and debt securities in a concise and consistent format across the various jurisdictions. In addition, the guide highlights ongoing continuing obligations and a brief summary of ESG considerations applicable to issuers. 

As our co-editor, Richard Jones of Slaughter and May, explains, “the last year has clearly been a turbulent one, and this has been reflected in the market conditions in the CEE region and more widely. The Russian invasion of Ukraine and its implications for the energy markets, as well as rising inflation, ongoing trade tensions, and the general slowdown of global economic activity, have had a profound impact on all major equity and debt markets over the course of the last year, with market participants facing tight and volatile financing conditions and a rising cost of funds. Unsurprisingly, given their geographic and economic proximity to the conflict, CEE capital markets were no exception. Across the CEE region, corporate bond volumes were down in 2022, reflecting a broader European trend, with sovereign, supranational, and financial institution issuers being the most prominent among those accessing the market. On the equity side, the market for IPOs remained largely closed, and significant secondary fundraisings were also rare. The outlook for 2023 is more positive, with many hoping that the second half of the year will bring more stable credit conditions and greater financing opportunities, particularly for higher-grade corporates."

The guide can be accessed in electronic format here and in pdf format here.

The CEE Legal Matters Comparative Legal Guide: Capital Markets 2023 includes:

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