We have one of the most experienced Equity Capital Markets (ECM) teams in South Africa which has concluded many of the landmark transactions in the South African equity market. The team structures and distributes, in conjunction with RMB Morgan Stanley, all major equity and equity-linked products, including:

  • Initial Public Offerings (IPOs)
  • Fully Marketed Offerings
  • Accelerated and Marketed Bookbuild Offerings
  • Rights Offers and equity underwriting
  • Convertible and Exchangeable 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 ECM team consistently maintains a leading market share across all major ECM products. The ECM team works closely with RMB Morgan Stanley the leading equity sales, trading and research business in South Africa. RMB Morgan Stanley consistently maintains the top-ranking market share on the JSE.

RMB Morgan Stanley has exclusive access to Morgan Stanley’s global equity distribution and research platform.  This gives RMB and RMB Morgan Stanley the ability to access the broadest universe of global equity capital for its clients.

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:

Other recent and relevant transactions include:

  • Discovery – R1.85bn accelerated placing of Discovery shares
  • Shoprite Holdings – R3.6bn accelerated placing of Shoprite Holdings shares
  • African Banking Corporation of Botswana – $28m IPO and listing of shares held by Atlas Mara on the Botswana Stock Exchange
  • 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 Food Group 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

RMB – the uncontested leader in South African IPOs.

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