Capital Markets


Against the backdrop of extraordinary flux in the financial sector, a number of issuers have had to go to market at speed to raise capital or access much-needed cash resources. We have also seen the need to restructure a number of debt instruments. Typically acting for issuers or underwriters, we can advise on:

  • IPOs, public offerings and follow-on offerings
  • Accelerated bookbuilds, institutional offerings and private placements
  • Listings, dual-listings and delistings
  • ADR/GDR programmes
  • Bond and note programmes whether stand-alone or in conjunction with a leveraged acquisition
  • Recapitalisations, reorganisations, demergers and spin-offs
  • Securities regulation.

Our team has completed many unprecedented transactions in South Africa, including the first asset-backed conduit, the first synthetic securitisation, and the first high-yield bond. We have also advised on the first inward listed debt transaction on the Cape Town Stock Exchange (CTSE) and the first regulated debt issuance by an issuer on the CTSE.

We have notable experience in securities regulation, bond and note programmes, listings including dual listings and de-listings on major international and local stock exchanges, public offerings and recapitalisations, among others in this practice area.

Major publishable transactions

  • Advised Impala Platinum Holdings in its public acquisition of all of the shares in Royal Bafokeng Platinum, a company listed on the Johannesburg Stock Exchange (JSE).
  • Advised on the establishment of a ZAR-denominated listed note program for Basilea, an affiliate of King Price, and the issue of a first tranche of notes thereunder which are listed on the Cape Town Stock Exchange (CTSE) –the first inward listed debt transaction on the CTSE and the first regulated debt issuance by an issuer on the CTSE.
  • Advised Southern Point Resources in connection with the acquisition of a material shareholding in Bushveld Minerals, a company listed on the London Stock Exchange (LSE).