Pawel Szaja is a partner in the Capital Markets practice. He is based in the London and Dubai offices and advises corporates, underwriters and private equity funds in EMEA on complex cross-border SEC-registered and Rule 144A / Regulation S equity and debt capital markets, M&A / private equity and SPAC/de-SPAC transactions as well as corporate governance, regulatory and ongoing reporting matters.

Pawel is a member of the Fintech Foundry program at Shearman & Sterling. He has completed secondments to the execution group at a major investment bank in London and the legal department at ADNOC in Abu Dhabi, UAE.

Equity Capital Markets: Initial Public Offerings, Rights Issues, Placements, SPACs and Equity-Linked Bonds (SEC-Registered and Rule 144A/Regulation S)

• Ferretti S.p.A., listed on the Hong Kong Stock Exchange, in connection with the admission to listing and trading of its ordinary shares on the Euronext Milan, the Italian main market and concurrent secondary institutional offering of Ferretti shares
• ADNOC L&S and ADNOC in connection with ADNOC L&S’ $769 million IPO and listing on the ADX, which was the second-largest IPO in the MENA region this year and the largest demand globally for an IPO so far in 2023
• Goldman Sachs, Merrill Lynch, Citigroup, EFG and ENBD as underwriters in connection with the $1 billion IPO and listing on DFM of Salik, the exclusive toll gate operator in Dubai
• Abu Dhabi National Oil Company, Borealis AG, and Borouge plc in connection with the $3.0 billion IPO and listing on the ADX of Borouge
• Fertiglobe in connection with its $795 million IPO and listing on the ADX
• Citigroup. Nordea and Swedbank as underwriters in connection with the €175 million IPO and listing on Nasdaq Tallinn of Enefit Green
• ADNOC and ADNOC Drilling Company PJSC in connection with the $1.1 billion IPO and listing on the ADX of ADNOC Drilling
• ADNOC Distribution in connection with its $851 million IPO and listing on the ADX
• The underwriters in connection with Tristar’s proposed initial public offering and listing on the DFM
• Emaar Misr in connection with its approximately $300 million initial public offering and listing of shares on the Egyptian Stock Exchange
• The underwriters in connection with the initial public offering and London Stock Exchange listing of Integrated Diagnostics Holdings plc
• The underwriters in connection with the initial public offering of Edita Food Industries S.A.E. on the Egyptian Stock Exchange and the London Stock Exchange
• The underwriters in connection with the initial public offering and Amsterdam Stock Exchange listing of ABN AMRO
• The underwriters in connection with the initial public offering and NASDAQ Tallinn listing of Enefit Green
• The underwriters in connection with the initial public offering and London Stock Exchange listing of Wizzair
• The underwriters in connection with the initial public offering and listing on the Spanish Stock Exchanges of Enel
• The underwriters in connection with the initial public offering and listing on the Ljubljana stock exchange of NLB

Debt Capital Markets: Investment Grade and High-Yield Bonds (SEC-Registered and Rule 144A/Regulation S), Project Bonds, Bank Regulatory Capital, Commercial Papers

• Enel Finance International N.V. (EFI), the Dutch-registered finance company controlled by Enel S.p.A., launched a multi-tranche sustainability-linked bond in the amount of $3.5 billion
• ADNOC in connection with its $1.64 billion combined offering of existing shares in ADNOC Distribution and issuance of exchangeable bonds listed on the Vienna Stock Exchange
• The initial purchasers in connection with the $814 million bond offering by ACWA Power Management and Investments One Limited
• The underwriters in connection with the project bond offering by Fujairah
• The underwriters in connection with the project bond offering by Abu Dhabi Crude Oil Pipeline LLC
• The underwriters in connection with the project bond offering by Emirates Sembcorp Water & Power Company
• The company in connection with the high yield bond offering by Polkomtel in Poland
• The initial purchasers in connection with bond offering by Mylan
• Bond offerings by ING Bank NV, ABMiller, The Royal Bank of Scotland Group, ENGIE, ArcelorMittal, Credit Suisse, Schaeffler, Odigeo, Digicel, Mylan, Yandex, NXP Semiconductors, StatoilHydro, Western Refining, Deutsche Industriebank, Eurohypo, Niagara Mohawk Power Corporation

Public / Private M&A, De-SPACs and Private Equity Investments

• Elemental Holdings in connection with a $290 million private investment and investment by IFC, EBRD and PFR (Polish Development Fund)
• MCI Capital SA, as a shareholder and PIPE investor, in connection with the business combination (de-SPAC) of GT Gettaxi Limited with Rosecliff Acquisition Corp I
• Axios Sustainable Growth Acquisition Corporation, a SPAC listed on NYSE, in connection with its planned de-SPACs
• Santander Bank Polska in connection with the sale of its minority stakes in Aviva Towarzystwo Ubezpieczeń na Życie, Aviva Towarzystwo Ubezpieczeń Ogólnych and Aviva Powszechne Towarzystwo Emerytalne Aviva Santander for approximately €2.5 billion
• Merger of Videocon d2h and Dish TV (Asia Pacific's largest direct-to-home TV company)
• Acquisition by a US listed company Wright Medical Group N.V. of IMASCAP, a French company

Awards & Accolades

• Recognized as The Lawyer Hot 100 2020
• Recognized as a “Rising Star” for Debt Capital Markets and Equity Capital Markets by IFLR1000 2023
• Recognized as a “Leading Individual” for Debt Capital Markets in Legal 500 UK 2024
• Recognized as a “Next Generation Partner” for Equity Capital Markets in Legal 500 UK 2024
• Recognized as an “Up and Coming” lawyer for Equity Capital Markets by Chambers 2023

Testimonials

• “Pawel Szaja is an exceptional transactional lawyer, bringing a breadth of capital markets knowledge and focus on finding effective solutions to challenges that arise on a transaction” – Legal 500 UK, 2023
• “Pawel Szaja is exceptionally strong in his fields and a go-to name” – Legal 500 UK, 2021
• “Pawel Szaja is super bright, sees every part of the deal, is very switched-on, has a can-do approach and is responsive” – Legal 500 UK, 2021

Deal of the Year Recognitions

• Advised on the €795 million IPO of Fertiglobe was awarded “Equity Deal of the Year” at the IFLR Middle East Awards 2022
• Advised on the €150 million IPO and privatization of Enefit Green which was awarded and “Deal of the Year” in Estonia at the Dealer’s Choice CEE Legal Awards 2021
• Advised on the €670 million IPO and privatization of Nova Ljubljanska banka d.d., Ljubljana which was awarded “Equity Capital Markets Deal Team of the Year” at the 2019 Legal Week and American Lawyer Transatlantic Legal Awards and “Deal of the Year” in Slovenia at the Dealer’s Choice CEE Legal Awards 2019
• Advised on the IPO of Waberer’s which was awarded the “Deal of the Year” in Hungary at the Dealer’s Choice CEE Legal Awards 2018
• Advised on the US$851 million ADNOC Distribution IPO which was awarded “Equity Deal of the Year” at the IFLR Awards 2018
• Advised on the US$814 million bond offering by ACWA Power Management and Investments One Limited which was awarded “MENA Project Bond of the Year” by IJ Global Awards 2018, “MENA Bond Deal of the Year” by PFI Awards 2017 and “Structured Finance Deal of the Year” by Bonds, Loans & Sukuk Middle East Awards 2017

Publications

• Author, “Initial Public Offerings: United Kingdom” published by Global Legal Insights, 2017–2022.
• Author and co-editor, “Investment Guide for Emerging Europe” issued by CEE Legal Matters, 2020.
• Author, “The JOBS Act and IPOs: the view from Europe” published by PLC Magazine, UK edition, September 2015.

Public Speaking

Pawel is a frequent speaker at major industry conferences, including:

• Speaker at 2021 PLI Institute on Securities Regulation conference in London, panel: Regulatory Developments Affecting Capital Markets in the U.S.
• Speaker at conference in London: Russian Capital Markets organized by London Stock Exchange
• Moderator at panel discussion in London: Financing in 2020 (M&A, PE, VC)
• Moderator at panel discussion in London: Investments Conference at the UK FinTech Week 2020
• Speaker at panel discussion in London: Return of the Down Round? Financing Amidst a Pandemic
• Speaker at panel discussion in London: Wave of M&A Consolidation
• Speaker at conference in London: Capital Markets of Uzbekistan
• Moderator at panel discussion in London: Capital Raising Opportunities organized by London Stock Exchange
• Moderator at panel discussion in London: IFLR Capital Markets Forum
• Speaker at conference in Riga, Latvia: “How Does Listing SOE’s Benefit Economic Development?” at the TOP101 Debate
• Speaker at conference in Warsaw, Poland: Capital Markets outlook for Polish companies organized by London Stock Exchange