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Capital Market

Our lawyers have advised on several capital market transactions including offers for sale, rights issues, reverse acquisitions, state bond issuances Sukuk issuances, amongst others. Some of such Sukuk transactions include advising on the first sub-sovereign sukuk in Nigeria (which entailed the drafting of enabling laws for the issuance), registration of a mutual benefit fund to be invested in Sharia-compliant securities and exchange-traded fund tracking an Islamic Index on the Nigerian Stock Exchange. Our capital market services include the reviewing/drafting of transactional documents such as vending agreements, issuing house agreements, underwriting agreement, trust deeds; prospectus etc; conducting due diligence investigations and preparing legal opinions on transactions. Our firm is licensed by the Securities and Exchange Commission to act as capital market consultants in Nigeria
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Transactions

  • Acted as solicitors to (LATC Marine Ltd) on its equity capital raising of a total of ₦2,485,477,275.00 through private placements, and on the application of its share premium account.
  • Acted as solicitors to a private limited liability company (Pivot Integrated Energy Services Limited) on its ₦10 Billion commercial paper issuance vide FMDQ Private Markets Portal to finance its working capital.
  • Acted as solicitors to a real estate company (Purple Real Estate Income Limited) for a public ₦50 Billion multi-insutmment debt programme by purple investment SPV Plc to be listed on the NGX.
  • Acted as solicitors to May and Baker Nigeria Plc, a health care company in Nigeria, on its Rights Issue of 980,000,000 ordinary shares of 50k each at N2.50k per share.
  • Acted as Solicitors to the Issue, on the Rights Issue of 2,373,947,500 ordinary shares of 50k each at N1.55, by a Neimeth Pharmaceuticals Plc. The tasks of the team in this regard include preparing the Underwriting Agreement, the Vending Agreement, and the Solicitors’ Report.
  • Acted as solicitors to the issuer to a Nigerian real estate development company in respect of its raise of N23 Billion via a Private Sukuk Issuance Programme.
  • Acted as solicitors to the issuer to a Nigerian real estate development company in respect of its raise of N3.5 Billion via a Private Sukuk Issuance Programme.
  • Acted as Solicitors to the Trustee in a Sukuk Issuance by a mortgage finance institution in Nigeria. The tasks of the team in this regard included preparing the Supplemental Trust Deed, reviewing the Programme Trust Deed, Service Agency Agreement, Sale & Purchase Agreement and Account Bank & Paying Agency Agreement.
  • Acting as solicitors to a public company (Adswitch Plc) a majority shareholder on the acquisition of another public company through a scheme of arrangement following a partly successful take-over bid.
  • Acting as solicitors to the issuer (Veritasi Homes and Properties Limited) on its ₦20 Billion private notes issuance vide FMDQ Private Markets Portal to finance its working capital.
  • Acting as solicitors to the Issuer, a private limited liability company (Voda Infrastructure Management Limited) in a public-private partnership (‘PPP’) with the Lagos State Government on its ₦70 Billion bond issuance vide FMDQ Private Markets Portal. The issuer was backed by a government guarantee for the bond issuance which proceeds 3 was used to refinance the construction facilities for the development of two public infrastructures in Lagos State.
  • Advised a client (GT Fund) on the issue of a ₦10 Billion money market fund. Our responsibilities included preparing the Prospectus, and revising the Trust Deed
  • Advised a Nigerian financial advisory company on a N15 Billion (Fifteen Billion Naira) private Sukuk (Islamic Bond) Issuance Programme for the development of land 4 measuring 20,711.423 square meters into premium residential villas in Ikoyi, Lagos State, Nigeria. The tasks of the team as Solicitors to the Transaction included drafting and reviewing of transaction documents such as the Trust Deed, Deeds of Undertaking, Istisna’a Agreement, Custodian Agreement, Forward Lease (Ijarah) Agreement and Agency Agreement.
  • Advised a Nigerian real estate company (Purple Real Estate Income Limited) on its initial public offering of 2,000,000,000 units of its ordinary shares.
  • Advised an international company based out of London and Dubai on the issuance of a USD $800m Africa related bond offering through Mainbridge Percentile on the Frankfurt Stock Exchange.
  • Advising a Nigerian real estate company (Moor Villa SPV Plc) on its issuance of up to ₦36 Billion Sukuk notes for the development of real estate projects to be listed on the NGX.
  • Advising a Nigerian Technology company on a N150 Million capital raise. The tasks of the team as Solicitors to the Transaction include conducting a legal audit on the Company as well as preparing, reviewing and negotiating the transaction documents including the prospectus and Vending Agreement.
  • Advising a specialist investment Nigerian company in the financial and real estate sectors on a N5 Billion private Sukuk (Islamic Bond) Issuance Programme for the development of 3.58 hectares of land into a mixed-use development in Lagos State, Nigeria consisting of restaurants, entertainment, cinemas, co-working spaces etc. The tasks of the team as Solicitors to the Transaction include drafting and reviewing of transaction documents such as Trust Deed, Deeds of Undertaking, Istisna’a Agreement, Custodian Agreement, Forward Lease (Ijarah) Agreement and Agency Agreement.
  • Advising a UK-based public company (MTN Funding PLC) on a US$2,672,290,000 capital market/project finance deal, whereby the company proposes to issue bonds in the UK and lend the proceeds to a Nigerian company for the development of real estate assets in Nigeria. The debt is proposed to be secured by an all-asset debenture over the assets of the Borrower.
  • Provided legal advisory services to Pretoria Atlantic Properties Limited with respect to the proposed reverse takeover of a leading public limited liability company in Nigeria.
  • Recently advised a company in the health sector on a capital raise (debt and equity) of up to N1 Billion. The Firm’s obligations, as Solicitors to the Company included conducting a legal audit of the Company, as well as negotiating, preparing, reviewing the transaction documents.

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