Securities and Capital Markets

As businesses grapple with uncertainty and the implications of COVID-19 and the effects on their plans to raise funds, the need for comprehensive experience of capital markets has never been greater. With the recent increase in equity and debt offerings, clients demand the most efficient and professional experts in this field of expertise.

Comprising of lawyers who have held extremely senior roles at the Israel Securities Authority (ISA), our Securities and Capital Markets Department is a major force in the field, providing comprehensive legal advice to public and private companies in Israel and abroad, as well as to their respective boards of directors, committees and office holders, in every aspect of corporate and securities laws, as well as corporate governance rules.
Our clients include large Israeli public companies (in the fields of banking, energy, oil and gas, real estate, finance, retail, etc.), foreign listed companies, investment houses, underwriting agencies, credit rating agencies, crowdfunding platforms and various players in capital markets.

These clients work with our team in relation to numerous equity and debt raisings of Israeli and international companies, and on all matters relating to the issuance of various financial instruments (including shares, bonds, warrants, commercial papers, structured products, contingent convertibles (CoCos), securitization and STOs). We also provide ongoing counsel on a wide variety of securities matters such as disclosure and reporting requirements; private placements; related parties transactions (RPTs); tender offers; M&A transactions; various aspects of compliance requirements and enforcement.

Members of our team have extensive experience in the field and a deep familiarity with the local and international capital markets, as well as representing clients vis-à-vis Israeli regulators (the ISA, the Commissioner of Capital Markets, Insurance and Savings Division, the Supervisor of Banking, and the Tel-Aviv Stock Exchange).

Pulling together this deep understanding of the Israeli capital markets and the regulators, together with the knowledge of applicable law, enable us to efficiently provide our clients with the coordinated and well-rounded legal advice in multiple areas of the law.
Recently, we have been involved in many high-profile and complex equity and debt issuances in the Israeli capital market.

In recent years, we have been engaged in many high-profile and complex issues and transactions which took place in the Israeli capital Market, such as:

• Advising Taavura Holdings LTD and Allied Logistics LTD in a full tender offer to acquire all outstanding share capital of Maman- Cargo Terminals & Handling LTD, resulting in the delisting of Maman from trading and becoming a private company.
• Advising El-Al Airways LTD audit committee regarding transactions with interested party.
• Advising on the IPOs of renewal energy companies – Econergy Renewable Energy Ltd. and Prime Energy Ltd.
• Advising Blue Square Group through 15 issuances of bonds totalling in excess of NIS 5 billion between 2021 – 2023.
• Advising M. Yochananof & Sons (1988) Ltd. in a capital raising (of NIS 350 million) and debt offering (of NIS 200 million).
• Advising on debt offerings (straight bonds / convertible bonds) by Econergy Renewable Energy Ltd. (NIS 250 million) and by Prime Energy Ltd. (NIS 130 million).
• Advising Maman Cargo Terminal of the Maman Group in its debt offering (of NIS 200 million).
• Advising GoTo Global Ltd. in its merger with a traded shell company – Go.D. Investments Ltd.
• Advising an independent committee of the board of directors of REIT 1 Ltd. on engaging a management company.
• Advising Arbe Robotics on its SPAC merger with ITAC on the Nasdaq stock market.
• Advising Isracard Ltd., Israel’s largest credit card company, on a merger agreement for its acquisition by Harel Insurance Services and Financial Investments Ltd., Israel’s largest insurance group, for a consideration of approximately NIS 3.3 billion.
• Representing Yahoo in a long-term commercial agreement and issuance of 24.99% in Taboola shares traded on NASDAQ.