Capital Markets

MMAKS Advocates advises various domestic and regional companies on capital raising transactions in debt and equity capital markets.

The firm is recognized for its strong technical expertise in advising on all aspects of regulatory regimes governing initial public offerings (IPOs), listed company mergers and takeovers, regional cross-listings, rights offers, structured finance, debt issuance and private placements.

MMAKS’s Managing Partner, Timothy Masembe, has been appointed as member of the Capital Markets Authority Board.

Representative transactions include:

  • Advising Umeme Holdings Ltd, the sole electricity distributor in Uganda on a sale down of its shareholding
  • Advising on cross border listings by introduction on the Uganda Stock Exchange (USE) for leading regional financial and insurance companies including Kenya Commercial Bank (KCB) and Jubilee Holdings Limited.
  • Advising the National Water Sewerage Corporation of Uganda on an infrastructure bond issue and listing on the Uganda Stock Exchange.
  • Advising CIMENTS du Rwanda (CIMERWA Ltd), the leading Rwanda Cement manufacturer on a proposed medium term note of USD50 million.
  • Acted as Co-Lead Counsel on the IPO of the National Insurance Corporation Limited (“NICL”); conducting legal due diligence on NICL and advising on statutory and non-statutory compliance relating to insurance and re-insurance business; preparing the prospectus.

For more information on MMAKS’ Advocates capital markets expertise, please contact Phillip Karugaba.