Recognised as ‘market leaders’ by corporates and investment banks, the capital markets practice at Allen & Gledhill LLP stands out for its expertise in first-of-its-kind equity and debt transactions in Singapore, while also boasting impressive capability in the REITs and business trust arenas. Tan Tze Gay spearheads the equity capital markets group and advises on high-value IPOs and listings on the Singapore Exchange (SGX), in addition to regional and international exchanges to global debt offerings. Head of the debt capital markets practice, Margaret Chin has experience across a range of debt offerings, including vanilla bond issuance, medium-term note programmes, hybrid instruments, and liability management exercises, while managing partner Jerry Koh leads the REITs group. Other key contacts in the team include corporate finance expert Yeo Wico, who is noted for his expertise in IPOs and bond offerings, and Kern Wong, who was promoted to partner in January 2023.

The ‘collaborative and knowledgeable’ team at WongPartnership LLP handles the full spectrum of equity and debt mandates and is well-placed to act as international counsel for issuers across Southeast Asia, including in Thailand, Indonesia and Malaysia. The team has demonstrable experience advising on a broad range of debt capital markets transactions, while its equity offering covers public and private placements, including primary and secondary listings on the SGX, Bursa Malaysia, Indonesian Stock Exchange and Stock Exchange of Thailand. IPOs of REITs and business trusts continue to take up a significant portion of the team’s workload. Choon Yuen Hui spearheads the DCM practice and head of the ECM group Gail Ong is noted for her expertise in US registered and Rule 144A/Reg S equity and debt offerings by issuers in Southeast and South Asia. Other key contacts in the group include Karen Yeoh, James Choo and Trevor Chuan.

Praised for its ‘excellent technical knowledge’, Rajah & Tann Singapore LLP acts for issuers, issue managers, underwriters and originators on IPOs, listing of companies, REITs and business trusts on the Mainboard and Catalist of the SGX. With demonstrable experience across the energy and resources, healthcare, lifestyle, real estate and manufacturing sectors, the firm houses a SPACs multidisciplinary practice and maintains a strong track record in domestic and cross-border equity, debt, and hybrid transactions. Hoon Chi Tern, who handles local and international IPOs, secondary listings and fund-raising mandates, jointly leads the team alongside Tan Mui Hui, who advises on primary and secondary listings in Singapore, as well as overseas exchanges, including, HKEx and NYSE. Evelyn Wee is noted for her expertise in SGX Mainboard listings, as well as REITs and business trusts listings, while Lee Xin Mei frequently advises on domestic and multi-jurisdictional debt restructuring transactions. Other key contacts in the group include Raymond Tong, who focuses on high-profile equity capital markets deals, and regional head of the firm’s corporate and transactional group, Chia Kim Huat.

Praised for its ‘excellent knowledge and quality of services’, Bird & Bird ATMD LLP is well-placed to advise on listings on the SGX and IPOs, in addition to secondary offerings, privitisations and exempted offerings of fixed income products. Noted for its experience in sectors where technology and regulation are driving change, the team is led by Marcus Chow, who assists domestic and international corporates in raising capital by way of IPOs, private placements, and rights and warrants issues, in addition to acting as Singapore counsel in outbound IPOs. Clients praise both Chow and counsel Jolie Giouw for the ‘exceptional services’ they provide.

Counting mid-market listed companies, corporate finance houses and high-net-worth individuals among its key roster of clients, CNPLaw LLP advises on equity, debt and structured securities mandates, with demonstrable experience in the technology and fintech arenas. The practice also assists listed companies on continuing listing obligations and corporate actions, such as restructurings, capital reductions, placements and share buybacks. Min-Li Tan leads the team and advises on capital markets deals throughout the Asia Pacific region, while Pradeep Kumar Singh acts for companies listed on the SGX on issuance and transactions.

Dentons Rodyk handles domestic and cross-border public offerings of equity securities, including IPOs, secondary offerings such as placements, rights issues and bonus issues, in addition to spin-off transactions and REITs. The team, which ‘delivers excellent client services’, also has demonstrable experience assisting arrangers, dealers and issuers on convertible, exchangeable and asset-backed debt securities, standalone debt issues and medium-term note programmes. Nicholas Chong, who focuses on REITs, debt capital markets and structured products, jointly leads the team alongside Valerie Ong, who has considerable experience in cross-border capital markets transactions. Li Chuan Hsu’s ‘prompt availability, responsiveness, and sound advice are commendable’.

On account of its longstanding relationships with regulators, Drew & Napier LLC frequently assists foreign clients looking to list in Singapore, with demonstrable experience advising on reverse takeovers, rights issues and other equity-linked transactions, as well as debt capital markets mandates. Steven Lo, who represents issuers, underwriters and selling shareholders in a range of domestic and cross-border capital markets transactions, jointly leads the team alongside Gary Wan, who handles capital markets deals across the region, namely Hong Kong, Thailand and Vietnam. Renu Menon advises on transactional and regulatory debt capital markets matters, and Pei Tong Ng is another key contact in the group.

Morgan Lewis Stamford LLC handles a broad range of capital markets transactions under Singapore law, with notable expertise in the equity arena, as demonstrated by its track record advising on multiple IPOs on the main board of the SGX. The team also advises on matters concerning Rule 144A offerings, US-style high-yield bonds and Regulation S offerings, in addition to Hong Kong and Singapore dual listings. Bernard Lui, who has experience in IPOs, placements and compliance mandates, jointly leads the team alongside Joo Khin Ng, whose practice covers a range of equity and debt capital-raising transactions. Associate director Chrystle Kuek is another key contact in the group.

Shook Lin & Bok LLP continues to showcase its strong track record in debt capital markets transactions, including medium-term note programmes, certificates of deposit, and debt issuance programmes, in addition to liability management and debt restructuring exercises. Counting Singapore-listed companies, financial institutions, sponsors, and investors among its key roster of clients, the team handles IPOs, dual listings, and secondary listings, with demonstrable experience advising on REITs transactions. Marilyn See is noted for her expertise in debt capital markets transactions, while Gwendolyn Gn, who is praised as ‘attentive to client’s requests’, focuses on domestic IPOs and cross-border dual listings.

Counting private placements, secondary fundraisings and reverse takeovers in its workload, Altum Law Corporation advises listed issuers on regulatory compliance with the listing rules of the Singapore Exchange, in addition to governance matters under the Code of Corporate Governance. Praised as ‘an experienced professional with deep market insight’, Lee Pih Peng leads the team and handles IPOs, dual and secondary listings and regulatory compliance issues, while Gregory Chan ‘has answers at the tip of his fingers given his experience‘ in capital markets and securities transactions.

AQUINAS LAW ALLIANCE LLP is noted for its capability in handling primary listings, including reverse takeovers, de-listings, privatisations, and secondary offerings, such as rights issues and placements, in addition to acting for clients listed on the Mainboard and Catalist board of the SGX on compliance issues. Praised for his ‘strong commercial knowledge and business sense’, joint managing partner Lim Kok Meng leads the team and advises on securities and debt offerings, securities regulations and structured finance matters. Sean Lee is another key contact in the group.

TSMP Law Corporation has demonstrable capability in launching IPOs on the Main and Catalyst boards of the SGX, with additional experience advising on reverse takeovers, foreign IPOs and secondary fundraisings. Stefanie Yuen Thio spearheads the practice and advises on a broad range of equity and debt listings in Singapore and across the region. Leon Lim V-King, who assists with IPOs and secondary fundraisings, is another key contact in the team.

Noted for its expertise in mid-sized capital markets transactions, Virtus Law LLP advises on Singapore Stock Exchange and London Stock Exchange listings, listing rules, takeover code and corporate governance issues, in addition to reverse takeover deals and secondary fundraisings. The team has seen an increase in mandates arising out of the consumer, healthcare and financial services sectors, as well as advising Chinese companies looking to list on the Singapore Stock Exchange. Parikhit Sarma leads the team and acts for private and listed companies, and investment funds on listing, fund raising and delisting mandates in Singapore. Douglas Koh is another key contact in the group.

Praised for its ‘excellent service’, Wong Tan & Molly Lim LLC advises on primary and secondary fundraisings, IPOs, reverse takeovers and regulatory compliance matters, with demonstrable capability in handling secured and syndicated loan transactions and guarantees, as well as structured finance matters. Counting financial institutions, listed companies and multinational corporations among its key roster of clients, Ong Beng Hong jointly leads the capital markets team alongside Tan Swee Gek.