Capital Markets and Listings
The firm has significant experience concerning capital markets. The Founding Partner, Mr. Savjani OBE SC, was the chairman of the Malawi Stock Exchange (MSE) for 10 years. Before becoming chairman, he was involved in the planning and establishment of the MSE. Mr Savjani was responsible for drafting the MSE Listing Requirements that are still in force to date. Savjani & Co. has given presentations on debt capital markets in a symposium organized by Standard Bank in conjunction with, among others, the MSE and the Reserve Bank of Malawi. This was the first symposium of its kind in Malawi.
Savjani and Co has a team of highly experienced lawyers in capital markets and listings. The firm has advised on the following: primary and secondary listing of companies on the Malawi Stock Exchange, various rights issues and listing of global depository receipts on the London Stock Exchange.
Top Capital Market and Listings matters
- We acted on behalf of Standard Bank Limited advising on a rights issue (for purposes of raising capital) for a publicly listed company. Our role involved advising on all regulatory aspects, drafting, and reviewing documents and ensuring that all legal requirements were complied with. These transactions occur relatively rarely in Malawi.
- Advised on the listing of Icon Properties Limited.
- Advised on the listing of National Bank of Malawi Plc.
- Advised on the listing of Standard Bank Limited (formerly Standard Bank of Malawi) on the MSE.
- Advised on the listing of NICO Holdings Plc.
- Advised on the listing of Press Corporation Plc.
- Advised on the secondary listing of Old Mutual plc on the MSE.
- In conjunction with a London based law firm, advised on the listing of Press Corporation Plc on the London stock exchange.
- Advised on rights issues of MPICO Plc.
- Advised on rights issues of Blantyre Hotels.
- Advised on Rights Issue of Press Corporation.
- Advised on the introduction of Capital Gains Tax on Sale of Listed Shares after the Malawi Government introduced capital gains tax on capital gains on sale of shares of listed companies irrespective of the period held.
- Advised Packaging Industries (Malawi) Limited; for minority shareholders in relation to the proposed basis of acquisition and valuation of shares of minority shareholders as part of de-listing the company from the MSE.