A&O advises on disposal of shares in CZG – Česká zbrojovka Group through an accelerated book build
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Allen & Overy announced today that it has advised Česká zbrojovka Partners SE, Mr. Jan Drahota and Mr. Lubomír Kovařík (the Sellers) on the sale of a portion of their shares in CZG – Česká zbrojovka Group SE (CZG) through an accelerated book-building (ABB) process targeted at selected investors.
The Sellers disposed of 2,030,000 shares (combined). Thanks to strong demand from the investors, the transaction was upsized by two-thirds. The purchase price achieved in the ABB was CZK555 per share, with total aggregate proceeds of the block trade of approximately CZK1.13 billion.
WOOD & Company Financial Services, a.s., acted as the sole global coordinator for the transaction.
Commenting on the transaction, Jan Drahota, Chairman of the Board of CZG, said: “The offer of shares through an accelerated book-building process responds to the long-term demand of investors for our shares, which the current small free float could not meet. We believe that higher liquidity will lead to higher interest of other investors and thus make the shares more attractive.”
David Tajzich, Managing Director of WOOD & Co., added: “We are pleased to have managed another successful transaction in CZG shares, resulting in the increase of the CZG effective free float by 6%.”
The A&O team on the transaction was led by partner Petr Vybíral, with support from junior lawyer Denisa Jonášová. Partner Marc Plepelits together with senior associate Rita Nicole Thomas advised on the U.S. law aspects of the transaction.
As of 12 April 2022 CZG – Česká zbrojovka Group SE changed its name to Colt CZ Group SE.