The capital markets practice at Akhund Forbes is known for its work on various high-value and complex transactions. It is adept at advising on a myriad of issues such as share dealings, stock exchange regulations and securities regulatory matters. Other strengths lie in advising on public debt issues including bonds and sukuks as well as on REITS, as well as equity work including IPOs and rights issues. Rabel Akhund is a seasoned practitioner in this area. Sahar Iqbal specialises in capital markets work and mutual funds work and has a following among Pakistan's asset managers.
Capital markets in Pakistan
Akhund Forbes
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Testimonials
‘Professional team with timely assistance / legal guidance’.
‘A competent team that has an understanding of the issues and is proficient with the business knowledge and its teamwork. Moreover, the effortless working environment and the way that it maintains its business relationships with clients make them competitively stronger‘.
Key clients
Arif Habib Dolmen REIT Management
MCB Arif Habib Investments and Savings Limited
UBL Fund Managers Limited
NBP Fund Management Limited
Habib ADM Limited
Privatisation Commission, Government of Pakistan
National Investment Trust Limited
King & Wood Mallesons
Curtis, Mallet-Prevost, Colt & Mosle LLP
Credit Suisse
Elixir Securities (Private) Limited
Datang Pakistan Karachi Power Generation (Pvt.) Limited
K-Electric YesAbraaj Pakistan Private Limited
Arif Habib Limited
Work highlights
- Continuing to provide regular and comprehensive advice to UBL Fund Management Limited, NBP Fund Management Limited and MCB Arif Habib Savings and Investment Limited on various matters in relation to their business.
- Advising National Investment Trust Limited on launching its first ever Exchange Traded Fund in Pakistan.
- Successfully advised Arif Habib Dolmen REIT Management on amending its constitutional documents and liaising with the Securities and Exchange Commission of Pakistan to bring them into line with the revised REIT Regulations.
Mohsin Tayebaly & Co
Mohsin Tayebaly & Co
advises both issuers and trustees on various corporate debt instruments, including sukuk. Head of department Irfan Tayebaly is highly regarded. Other key members of the team are Vaseeq Khalid and Mehreen Manto both of whom have an excellent reputation for their work on international and local debt and equity financings.
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Other key lawyers:
Key clients
MCB Bank Limited
Meezan Bank Limited
Habib Bank Limited
National Bank of Pakistan
Dubai Islamic Bank Limited
BankIslami Pakistan Limited
United Bank Limited
Standard Chartered Bank (Pakistan) Limited
Askari Bank Limited
Bank Al Habib Limited
Bank Alfalah Limited
Habib Metropolitan Bank Limited
Faysal Bank Limited
K-Electric Limited
NRSP Microfinance Bank Limited
Power Holding (Power) Limited
The Hub Power Company (Private) Limited
Arif Habib Limited
TPL Trakker Limited
Sadaqat Limited
TPL Corp Private Limited
Ijaz Ahmed & Associates
Ijaz Ahmed & Associates has played a key role in drafting and advising on a sizeable amount of the subordinated legislation, regulation and market practice for the country’s stock exchange and commodity exchange as well as the clearing and depository systems in Pakistan. In addition it has advised on some of the most significant capital markets litigation in recent times. Ijaz Ahmed has substantial experience in all aspects of capital markets work and has acted for many of the leading brokerage houses in Pakistan. Altaf Qureshi is another prominent member of the department that receives a regular stream of instructions from some foreign law firms.
Practice head(s):
Key clients
Allied Bank Limited
Bank Alfalah Limited
Barclays Bank plc
National Bank of Pakistan
Standard Chartered Bank (Pakistan) Limited
Pakistan Kuwait Investment Company (Pvt.) Limited
Securities and Exchange Commission of Pakistan
Pakistan Stock Exchange
Pakistan Mercantile Exchange
State Bank of Pakistan
National Clearing Company of Pakistan
Central Depository Company of Pakistan
Orr, Dignam & Co.
Orr, Dignam & Co. is adept at advising on potential capital market acquisitions as well as on the legal issues that arise on the issue of capital. The group is experienced in advising on IPOs, restructurings and due diligence reports. It frequently works with international companies to advise on the legal and regulatory framework for investing in Pakistan. Aliya Yusuf and Zahir Riaz are among the main contacts.
Practice head(s):
Key clients
Packages Limited
Pakistan Cables Limited
National Bank Pakistan Limited
Exide Pakistan Limited
Work highlights
- Advising Packages Limited on its proposed acquisition of further shares in Tripack involving a public tender offer and related issues under take-over laws.
- Advising National Bank of Pakistan on issues connected with related party transactions, insider trading policies and various related compliances applicable to listed companies.
- Advising Pakistan Cables Limited on various compliance requirements applicable to listed companies.
Ahmed & Qazi
Ahmed & Qazi fields a versatile team that handles the complete spectrum of capital market deals from the issuance of all types of shares (including ordinary and preference shares) to equity warrant options as well as advising on domestic and foreign sovereign bonds and sukuks. With Nazif Ahmed at the helm, the group also advises on listing and delisting requirements. It has advised on many IPOs from smaller deals to larger sovereign debt security transactions.
Practice head(s):
Key clients
Ministry of Finance, Government of Pakistan
The Water and Power Development Authority
Arif Habib Dolmen REIT Management Limited
Al Baraka Bank (Pakistan) Limited
Faysal Bank Limited
Meezan Bank Limited
Summit Bank Limited
Pak Brunei Investment Company Limited
Landmark Spinning Industries Limited
Capital Assets Leasing Corporation Limited
Work highlights
- Represented the Ministry of Finance, Government of Pakistan in its $2.5bn sovereign bond offering.
- Represented The Water and Power Development Authority in its $500m Senior Reg-S Green Bond issuance on LSE.
- Representing Ministry of Finance, Government of Pakistan in its $1bn “Project Naya Pakistan” Sukuk Programme.
Liaquat Merchant Associates
Faresa Jafarey Ahsan leads an experienced team at Liaquat Merchant Associates, which advises on a wide range of capital market issues. The team is well equipped to handle a broad range of derivative transactions in Pakistan such as foreign exchange options, repo transactions and regularly advises on a diverse range of ISDA documentation.
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Key clients
Syngenta Pakistan Limited
Pi Pakistan (Private) Limited
ANZ Banking Group, Hong Kong
International Finance Corporation
Pakistan Stock Exchange Limited
Work highlights
- Reviewing, drafting and advising on various commercial agreements pertaining to Syngenta’s business as a leading manufacturer and distributer of agricultural products including distribution agreements, novation agreements, manufacturing agreements, advertisement agreements, agricultural trial agreements and warehousing and lease agreements with various service providers and counter parties.
- Advising and assisting in the initial funding rounds of a media startup (funding raised in the amount of $6m), and assisted in its successful bidding for broadcasting rights in respect of the Pakistan Super League.
- Advised Pakistan Stock Exchange in respect of complex issues such as listing applications for a company whose shareholder was also a shareholder in another listed company that has been placed into the Defaulters Segment.