News

Lepik & Luhaäär LAWIN advises Olympic Entertainment Group on a € 73 million IPO in three Baltic States

Olympic Entertainment Group, a leading East-European provider of gaming services with operations in Estonia, Latvia, Lithuania, Ukraine, Belarus and Poland, announced a simultaneous initial public offering of its shares in Estonia, Latvia and Lithuania on 30 September 2006. The offering is expected to bring proceeds of up to € 73 million. According to Lauri Lind, the head of equities in Hansapank (the global coordinator of the offering), the first-ever simultaneous public offering in three Baltic States is an “important milestone in the development of the Baltic capital markets”.

Lepik & Luhaäär LAWIN advised Olympic on all aspects of the offering and was responsible for the due diligence of its operations in 6 countries as well as the drafting of the offering and listing prospectus. The due diligence of Olympic’s Baltic operations and the legal matters related to the public offering were handled in cooperation with Klavins & Slaidins LAWIN in Latvia and Lideika, Petrauskas, Valiunas ir Partnerai in Lithuania. With respect to Ukrainian and Polish law, the firm has worked closely with local advisors belonging to the DLA Piper network (respectively DLA Piper Ukraine LLC and Łukowicz, Świerzewski i Wspólnicy). In Belarus, Lepik & Luhaäär LAWIN was assisted by law firm Businessconsult.

The offering and listing prospectus of Olympic Entertainment Group is available from the website of the Group (www.olympic-casino.com) and from the website of the Estonian Financial Supervision Authority (www.fi.ee).