We have one of the most experienced Equity Capital Markets (ECM) teams in the market with a significant number of the landmark equity transactions concluded the last couple of years. The team structures and distributes all major equity and equity-linked products, including Initial Public Offerings (IPOs) and Listings, Accelerated Bookbuild Offerings, Rights Offers and Convertible Bonds.
The ECM team is also able to offer innovative equity derivative solutions to our clients who wish to acquire, dispose of, protect or leverage their equity stakes.
The team consistently maintains a leading market share across all major ECM products. The ECM team works closely with RMB Morgan Stanley on equity sales, trading and research services for JSE-traded securities. RMB Morgan Stanley is the leading Sales and Trading distribution team in SA and consistently maintains the top-ranking market share on the JSE.
With exclusive access to Morgan Stanley’s global equity distribution and research platform, we are able to give our clients access to the broadest universe of global equity capital.
RMB Morgan Stanley is the leading ECM team in South Africa by a significant margin, having worked on 7 of the top 10 IPOs since 2010, including:
- STAR - $1,247m
- Vivo Energy - $820m
- Tsogo Sun - $708m
- Life Healthcare - $681m
- Royal Bafokeng Platinum - $426m
- Alexander Forbes - $348m
- ARC Investments - $332m
Other recent and relevant transactions include:
- Sibanye Gold – R13,5bn rights issue
- Impala Platinum – R3.3bn convertible bond offering
- Life Healthcare – R9bn rights issue
- Pan African Resources – R705m accelerated placing of Pan African shares
- Royal Bafokeng Platinum – R1.2bn convertible bond offering
- Rhodes Food Group – R660m accelerated placing of Rhodes shares
- Remgro Limited – R9.9bn rights issue
- PPC – R4bn rights issue
- Ethos Capital – R1.8bn IPO and listing on the JSE
- Spar – R2.2bn and R1.5bn accelerated placings of Spar Group shares
- Mediclinic – R10bn rights issue
- Choppies – R1.4bn IPO and R6.3bn listing of Choppies Enterprises Ltd on the JSE