Capital Markets

Our firm has significant know-how and experience in the field of capital markets. We advise a number of national and international clients on a wide range of issues related to securities.

Advising Fairfax on the $ 278 million acquisition of Actis’ stake in Commercial International Bank and the necessary related disclosures.

Publications

  • Regulatory Framework
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  • IPO in Egypt
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  • Developing Local Capital Markets in the Southern and Eastern Mediterranean Region
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Advising Altimo on launching a $3.7 billion mandatory tender offer for purchasing an Egyptian listed company (Orascom Telecom Holding) having Global Depository Receipts listed on the LSX.

Advising Societe Générale on the sale of its entire stake in its listed Egyptian Subsidiary National Societe Générale Bank (“NSGB”) to Qatar National Bank. Our work included advising on the mandatory purchase offer requirements under the Capital Market Law, preparing the documents required for executing the transaction and obtaining the approval of the Egyptian Financial Supervisory Authority and the Egyptian Stock Exchange, and dealing with various regulators. The transaction has been the largest the largest transactions in Egypt during 2013.

Advising Credit Agricole Bank Egypt – which acted as escrow and settlement agent – on the mechanics for settling the purchase price for Mobinil and OTMT for which the tender was up to around USD 1.97 billion, as well as advising on the foreign currency hedging arrangements associated with the payment of the purchase price.

Advising UBS , Credit Suisse, and Deutsche Bank as joint lead arrangers on the offering of rights’ issue shares of Orascom Development Holding AG on the Swiss Stock Exchange involving Egyptian depository receipts, which was the first ever rights’ issue of EDRs in Egyptian history.

Advising an IFI on the current legal and regulatory regime in Egypt of the local debt capital markets activity including T-bills and government bonds. The work included meeting various regulators and relevant market players, completing a comprehensive questionnaire on debt capital markets and sukuk in Egypt, and assisting in preparing a report based on the responses to the questionnaire.

Advising EFG Hermes Holding, Hermes Portfolio Management Group, Hermes Fund Management Group & Hermes Brokerage Company (the largest investment banking group in the Middle East) on a wide variety of capital market issues.

Advising EFG Hermes on several mutual funds and money market funds of leading Egyptian financial institutions, including the draft of the fund management agreements and relevant prospectuses.

Advising a number of international financial institutions on the marketing of foreign securities in Egypt.

Advising several of the leading investment houses in Egypt on international and local fund marketing.