Leszek Koziorowski


Capital Markets

His legal practice focuses on corporate advice for publicly listed companies, public issues of shares and bonds, mergers and acquisitions of commercial companies, and formation and operation of brokerage houses and investment funds. He has successfully advised on numerous corporate disputes. He is a specialist in corporate relations in public companies and the functioning of governing bodies at public companies as well as in the communication of public companies with the market, including the performance of disclosure obligations.



Leszek joined GESSEL in 1999 and became a partner in 2002.

Since the beginning of his professional career, he has been involved in the Polish capital market. Initially he worked at the Polish Securities and Exchange Commission (now the Polish Financial Supervision Authority); at this time he also held the position of vice chairman of the Examination Commission for Investment Advisors.

Since 2013, he has been a member of the Corporate Governance Committee at the Warsaw Stock Exchange. In this capacity, he was one of the co-authors of the Best Practices in Public Companies 2016 and Best Practices in Public Companies 2021. He has been a member of numerous supervisory boards, in many instances as their president. He currently sits on the Supervisory Board of TAURON Polska Energia S.A.

Leszek has been recommended and recognized in numerous rankings of law firms, including since the first edition of the “Rzeczpospolita” ranking. In addition, he has received accolades from “Chambers Global” and “Chambers Europe. Europe’s Leading Lawyers for Business”, which lists him among the leaders of the capital market field, describing him as “a talented and respected lawyer – definitely among the elite”.

Author of numerous publications on the capital market. His articles and columns have appeared in, among others, “Przegląd Prawa Handlowego”, “Prawo Papierów Wartościowych”, “Radca Prawny”, “Rynki Kapitałowe”, “Rzeczpospolita”, “Gazeta Giełdy Parkiet” and “Dziennik”.

In addition to his professional interest in securities, Leszek Koziorowski collects historical securities, and develops his interest in the history of the economy, particularly the capital market, through his activities in the Association of Historical Securities Collectors, serving as president since 2009. He also remains editor-in-chief of the Securities History Yearbook and has written numerous articles on the history of securities. He was the first to describe historical Polish stocks in the two-volume “Catalogue of Joint Stock Companies of Interwar Poland and the Shares Issued by These Companies.”

Leszek’s interest in securities departs beyond the purely professional sphere. He is a collector of historical securities documents, and his interest in history of the equity markets and of the economy in general is pursued in the Association of Historical Securities Documents Collectors, of which he is the president since 2009. Leszek is the editor-in-chief of an annual publication devoted to the historical aspects of securities and the author of numerous writings on related topics, including the book “Shares Listed on the Warsaw Stock Exchange Until 1939” and the monolithic “Katalog spółek akcyjnych Polski międzywojennej i akcji emitowanych przez te spółki”, a two-volume work presenting an unprecedented elaboration on the subject.


Selected projects

  • Structured a secondary public offering of shares with pre-emptive rights and admission to trading on the Warsaw Stoch Exchange – Polwax S.A.
  • Structured a bond issue program and conducted a public offering in connection with the issue of series A and B bonds – Benefit Systems S.A.
  • Led the strategic alliance between Nets and the operator of the Przelewy24 service
  • Advised on implementation of MIFID II for the Buy Fund S.A. platform
  • Advised on a compulsory buyout and delisting of LUX MED Trójmiasto (formerly SwissMed Prywatny Serwis Medyczny) – LUX MED Group
  • Conducted MIFID II implementation for Vestor Dom Maklerski
  • Drew up a prospectus for Kredyt Inkaso S.A. in connection with its public offering and bond issue program
  • Structured the initial public offering of shares of Polski Bank Komórek Macierzystych S.A.
  • Drew up an information memorandum for F series shares of Mangata Holding (subject to approval by the Polish Financial Supervision Authority)
  • Drew up the prospectus and advised on the transfer of APS Energia S.A. shares from NewConnect to the main floor of the Warsaw Stock Exchange
  • Advised on the reverse split of Polimex-Mostostal S.A. shares worth PLN 173.24 mln
  • Drew up a prospectus for the R series shares of Polimex-Mostostal S.A. (value: PLN 114.5 mln)
  • Advised on the initial public offering of polWAX S.A.
  • Advised on the initial public offering of Skarbiec Holding S.A.
  • Advised on the initial public offering of Vigo System S.A.
  • Advised on corporate disputes for Kredyt Inkaso S.A.
  • Advised on changes in the shareholding of NDS S.A. in connection with a corporate dispute
  • Advised in corporate disputes between shareholders of Netia S.A.
  • Advised in corporate disputes in the merger of Polimex S.A. and Mostostal Siedlce S.A.
  • Advised in corporate disputes for the company Mostostal Export S.A.

& Insights


4 awards for GESSEL in Ranking of Law Firms 2023 of the Rzeczpospolita daily

21 RANKING OF LAW FIRMs 2023 of the Rzeczpospolita daily brought us 4 awards and great pride in the achievements of the many people who make up the GESSEL law firm. I...

4 awards for GESSEL in Ranking of Law Firms 2023 of the Rzeczpospolita daily


GESSEL honoured in Chambers Europe 2023

Chambers and Partners have announced the results of their Europe 2022 ranking. We are proud to point out that our firm has strengthened its position in Band 1 of the Cor...

GESSEL honoured in Chambers Europe 2023
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Education and achievements

  • Legal studies at the Faculty of Law and Administration of the University of Warsaw (1994)
  • Admitted to practice as an attorney in (1998)


Science publications