Pakistan > Capital markets
Capital Markets
Haidermota & Co’s highly recommended team advises on all aspects of funds and securities matters. It acted for clients in the flotation of open-ended and closed-ended funds and non-banking finance companies. It also acted in Cinepax Ltd’s public floatation, and advises on public offerings of convertible Term Finance Certificates (TFCs) and TFCs with detachable warrants. It also represented Pak Omen Investment Co (Private) Ltd on the first issuance of commercial paper in Pakistan to Packages Ltd. Partners Khozem Haidermota and Ali Akber Vasi are recommended, as is associate Haroon Baryalay.
The ‘dedicated professionals’ at Liaquat Merchant Associates have a ‘command’ of capital markets issues. The team advises on Pakistan-based mutual funds and regulatory and compliance issues. It advised a Dubai-based bank in the winding up of its non-banking asset management company, and continues to advise Deutsche Bank locally and globally on derivative transactions. Senior partner Liaquat Merchant is recommended for his ‘knowledge, experience and dependability’. Faresa Ahsan is also recommended.
Mandviwalla & Zafar advises stakeholders on new securities laws and regulations. It also regularly assists the State Bank of Pakistan and the Securities and Exchange Commission of Pakistan in drafting new regulatory laws. Clients include the Pakistan Banks Association and the Karachi Stock Exchange. Mehmood Mandviwalla is the key contact.
In addition to advising on regulatory compliance, Rizvi, Isa, Afridi & Angell advises international clients on the establishment and operation of stock options in Pakistan. It recently advised Barclays PLC on its global share purchase plan and GDF Suez on its international free share plan. Domestically, it is currently advising the Oil and Gas Development Corporation Ltd regarding the Pakistani government’s investor offering of part of its stake through the issuance of exchangeable bonds. Ahsan Rizvi is recommended.
Akhund Forbes acted for the Asian Development Bank in relation to regulatory rebalancing arising out of the demutualisation of stock exchanges, as well as the legislative framework for management and accountability of (local) government fiscal transactions. It is also advising Arif Habib REIT Management Ltd on Pakistan’s first Listed Rental Real Estate Investment Trust. Rizwan Akhund advises the CDC in various matters.
The ‘reliable’ team at Cornelius, Lane & Mufti assists clients in equity and debt securities listings on local and international exchanges, and advises non-banking finance companies on regulatory compliance and capital markets matters, including complex Islamic bond issues. Salman Aslam Butt and Shehzad Ata Elah are recommended.
Mohsin Tayebaly & Co undertakes buy-side advisory work and frequently advises on high-value TFC issues. It recently acted as lead counsel in multibillion-rupee, multiple term finance certificate issues for Power Holding Limited. Irfan Tayebaly heads the team.
Orr, Dignam & Co advises on listing securities, IPOs, GDRs, TFCs, and regulatory issues for foreign investment. It was also involved in setting up the Central Depository Company of Pakistan. Maudood A Khan, who is based in Karachi, leads the team.
Abraham & Sarwana has advised on funded and non-funded derivates products and transactions. Clients have included Bank of America Merrill Lynch, Morgan Stanley and CLSA. Farooq Abdullah and Jawad Sarwana are the key contacts.
Hassan & Hassan (Advocates) advises domestic and international clients and previously advised the Lahore and Islamabad stock exchanges in respect of demutualisation. Other clients have included Abacus and Rothschild. Parvez Hassan is the key contact.