Capital Markets

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Capital Markets

"It has high calibre, dedicated and skilled staff...they have a good rapport with local regulators, the Bank of Uganda and the Capital Markets Authority."

IFLR 1000: Guide to the World’s Leading Financial law Firms

Our team advises on all aspects of local and international securities offerings such as Initial Public Offerings (IPOs), cross border listing, bond listings financings, corporate governance and compliance issues for public companies. We have represented different stakeholders such as: issuers, underwriters, agents, investment and venture funds, investors, brokers.

The Firm represents clients in some of the most sophisticated and innovative capital raising transactions in the country and also routinely provides counsel to the Capital Markets Authority on the rules and regulations the Authority promulgates to regulate this sector in Uganda.

We have acted as legal and transaction advisors on:

  • the largest bond listing on the Uganda Securities Exchange;
  • one of the the largest IPOs in the history of Uganda;
  • one of the first cross border listings in East Africa;
  • the first mortgage based securitization in the East and Central Africa;
  • the first capital raising transaction at the Rwanda OTC Market.

We have, in executing these assignments, navigated the complex regulatory regime that governs our clients’ businesses and in many instances we have helped to shape the legal practices that implemented and expanded those developments. Our practice and our clients’ businesses have grown at an exponential rate as the capital markets continue to diversify.

Sample Transactions

  • We were the legal advisors on the demutualisation of the Uganda Securities Exchange
  • We have provided counsel to the Capital Markets Authority on various rules and regulations that have been introduced over governing the operations of the Capital Markets and securities regime in Uganda.
  • We advised The African Development Bank on the largest bond listing on the Uganda Securities Exchange (USE)  worth Billions of Shillings.
  • We advised The Eastern and Southern Africa Development Bank (“TDB Bank”) on its  Billion Shilling bond listed on the USE.
  • We advised the TDB Bank on the Ugandan aspects of its Billion dollar Euro Medium Term Note Programme.
  • We advised Banque Commericale du Rwanda on the introduction on the Rwanda OTC Market. This was the first capital raising transaction of its nature in Rwanda.
  • The Firm also advised PTA Bank on its Medium Term Note listing on the Rwanda Securities Exchange.
  • We advised DFCU Bank Limited while acting as the legal and transactional advisors on all aspects of its then proposed Billion shillings Bond Issue on the Uganda Securities Exchange. The proposed listing was eventually halted as the Bank decided to merge with a management company.
  • We advised Centum Investment Company Limited on its cross border listing on the USE.
  • We advised Equity Bank Limited on its cross border listing on the USE
  • We advised Kenya Airways on its cross border listing on the USE.
  • We advised DFCU Bank Ltd on its IPO and listing of its shares on the Uganda Securities Exchange, at the time the largest listing in the history of Uganda.
  • We advised Nile Bank Limited on its proposed listing on the USE which listing was halted when NIle Bank acquired by Barclays Bank of Uganda  on the eve of the listing.
  • We advised Kenya Airways on the Ugandan aspects of its IPO on the Nairobi Securities Exchange.

Key Contacts

Sim K. Katende
Partner
Arthur M. Katende
Principal Associate