" Their execution abilities are the best in Ghana for the capital markets... - Capital Markets, The Legal 500, 2022
" They provided advice on structuring the fixed income exchange-traded fund to make it compliant to both Ghana mutual fund and ETF listing rules. Such a transaction has never been done in Ghana - Capital Markets, IFLR, 2022.
The legal and regulatory framework for Ghana’s capital markets is still evolving to match market demands and global best practices. Our capital market practice group advises issuers and arrangers on capital market transactions in the Ghanaian market and, in some circumstances, offshore. Our market leading team have the technical expertise and a complete understanding of the market rules and practice to provide our clients with commercially relevant advice. We advise on the full range of equity and debt capital markets transactions for issuers in Ghana and in some cases in relation to offshore offerings and listings.
Our transactional experience on equity capital markets transactions involves advising on initial public offerings (IPOs), secondary fundraisings and additional listings, including rights issues and placings. On debt capital markets transactions, we advise on note and bond single issuances and programmes, including secured, unsecured and receivables-backed offerings, liability management, and Eurobonds.
Key Matters
Equity Capital Markets Experience
Ghana Amalgamated Trust Plc: Proposed initial public offer and listing of shares on the Ghana Stock Exchange (GSE).
MTN Ghana: Initial public offer and listing of shares on the GSE.
Ecobank Ghana Limited: Initial public offer and listing of shares on the GSE.
Access Bank (Ghana) Plc (Access Bank): Initial public offer and listing of shares on the GSE.
Standard Chartered Bank Ghana Limited: Rights issue and additional listing of shares on the GSE.
Debt Capital Markets Experience
Controller ABS: Loan receivables-backed bond issuance programme and listing of bonds on the Ghana Fixed Income Market (ongoing and confidential). This involves the purchase of loan receivables by the special purpose vehicle from selected financial institutions with proceeds of bonds to be issued by the special purpose vehicle.
Daakye Trust Plc: Tax receivables-backed bond issuance programme and listing of bonds on the Ghana Fixed Income Market.
ESLA Plc (Energy Bonds): Tax receivables-backed bond issuance programme and listing of bonds on the Ghana Fixed Income Market. This is currently the largest bond programme on the Ghanaian market.
Ministry of Finance: 2018 Eurobond issuance and exchange offer.
Cross-border Capital Markets Experience
Sunda Group: Issuance of shares on the Hong Kong Stock Exchange.
Newcore Gold Ltd: Issuance of shares by way of private placement and additional listing on the Toronto Stock Exchange.
Bayport Management Ltd: Proposed public offer and listing of shares on the London Stock Exchange.
Ecobank Transnational Incorporated: Issuance of USD 150 million convertible bonds which were listed on the International Securities Market of the London Stock Exchange.
