When Daniel Obajtek was the chief executive of Energa, Polish parliament enacted what has become known as Lex Energa. Now, Obajtek runs Orlen, and we are about to witness coming into force of a Lex Orlen. This time around, the market will take a positive view of the new law.

For some years now, capital markets specialists have been calling for change of the rules governing mandatory tenders for shares in publicly listed companies. There were a few opportunities to enact such rules, and at least one draft statute, but it ended up on the back burner. Right now, however, all the indications are that the act regarding public share offers, which regulates tenders, will finally be amended [...]


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