Baker & McKenzie Advises KIT Digital on Prague Stock Exchange Listing
Deal Announcement
February 23, 2010
Prague, Czech Republic and New York, USA, February 23, 2010 – Baker & McKenzie’s Prague and New York offices have advised KIT digital, Inc. (NASDAQ: KITD), a leading global provider of IPTV software and integration solutions, on its successful dual listing of common stock for trading on the Prague Stock Exchange (PSE) in addition to its current NASDAQ Global Market listing, effective Monday, January 25.
The Baker & McKenzie team on this listing was led by Partners Libor Basl from the Prague office and David Freedman from the Securities team based in New York. The team had lead responsibility for drafting, submitting and approving the prospectus, corporate and regulatory issues and general transaction management in relation to admission of the shares to the main market of the Prague Stock Exchange.
Libor Basl, head of Baker & McKenzie Prague’s emerging Banking & Finance Practice Group, noted: “We are delighted to have acted on such a prominent listing - the first listing on the Prague Stock Exchange since 2008 and pioneering in several aspects. Our Firm’s proactive, can-do approach complemented KIT digital’s dynamic and goal oriented culture.”
Commenting on the deal, Kaleil Isaza Tuzman, KIT digital’s chairman and CEO stated: “The PSE is a natural fit for us, given our Prague headquarters and the significant business we have developed in the Eurozone.”
Kaleil Isaza Tuzman continued: “We want to thank Baker & McKenzie for advising us through this process and achieving approval of our prospectus by the Czech National Bank and listing of our shares on the Prague Stock Exchange in such a short time frame.”