Engoru, Mutebi Advocates has vast experience in the capital markets sector having acted on a wide variety of matters and drafted some of the regulations for the sector under mandates from the Uganda Securities Exchange. The firm has also handled a number of capital markets deepening transactions in Uganda.
The firm also has expertise in handling listings, bond issuances, commercial paper programmes and other medium term note issues. We are conversant with capital raisings, take-overs and mergers of companies and institutions listed on the Uganda Securities Exchange. Our team can effectively advice across a range of transactions for private companies and public listed companies covering: initial public offerings, secondary issues – rights and scrip issues, de-listings, introductions, cross-border listings, take-overs, private placements and re-structurings.
Recent Transactions
Advising an international Civil Engineering Contractor with extensive operations in Uganda’s nascent oil and gas sector, transport, waste and water sectors on its proposed listing on the Growth Emerging Markets (GEMS) sector of the Uganda Securities Exchange. The advice entailed conducting a comprehensive corporate restructuring.
Acted the World Bank through its Long Term Finance division on a legal analysis of the legal, regulatory and tax framework for the issuance of projects bonds for financing of infrastructure projects in Uganda.
Advised Dyer and Blair Investment Bank, a brokerage firm regulated by the Capital Markets Authority on the proposed transfer of its retail business to another regulated entity in Uganda. we advised on the capital markets legislation and approvals under the auspices of the Capital Markets Authority
Advised the Uganda Securities Exchange on the post completion regulatory aspects of the largest transfer of shares ever on the exchange in DFCU bank from Norfund to Norfinance AS
Acted for the Uganda Securities Exchange on the regulatory approval and corporate structure with respect to the restructuring of the largest financial institution in Uganda and the creation of a holding company. Our advice was essentially to render back – view advice on the process and whether the restructuring complied with the internal exchange rule.
Advised the Uganda Securities Exchange on the legal aspects pertinent to the Infrastructure Harmonization of the Smart Order Router Central Depository System Interface and Messaging Platform for the regional securities market. The advice entailed a review of the relevant regulatory regime and the infrastructure agreement between the Stock Exchanges in Uganda, Kenya, Rwanda, Tanzania and Burundi. Also advised on remedial actions in respect of the legal risks that arose as a result of the harmonization of the infrastructure.
Currently advising the Uganda Securities Exchange on its proposed set up of a Small Medium Enterprise (“SME”) focused Fund. The preliminary advice entails a review of the entire regulatory landscape with respect to capital markets, tax, financial services and the corporate structure adoptable. We are also advising on the fund structuring and options available i.e. either onshore or offshore
Advised the Uganda Securities Exchange on the preparation of its Rule Book and User’s Manual which entailed a review of the entire legal framework pertinent to the capital markets sector including the Capital Markets Authority Act, the Uganda Securities Exchange Rules, the Listing Rules on the various sectors including the main market, growth emerging markets, the issuance of debt instruments amongst others
Advised the Uganda Securities Exchange on and prepared a listing toolkit that entailed a review of the entire regulatory framework for listings and issuances of instruments on the exchange. We reviewed the Capital Markets Authority Act, the Uganda Securities Exchange Rules, the Listing Rules, the Tax implications of the same.
