Corporate
Capital Markets & Securities
Our Capital Markets & Securities department is the largest and most prominent department in Israel and has been consistently involved in the most significant, complex and ground-breaking deals in Israel. The department is recognised as a leader in both international and domestic guides.
Our team's in-depth knowledge and experience in this field allows us to provide creative legal advice to address our clients’ specific needs. Moreover, our deep connections with regulators and authorities in Israel as well as familiarity with the U.S., European, enable us to find innovative solutions in a highly regulated and complex environment.
Our team is well known across the Israeli market as the team of choice for complex capital markets advice, and has successfully negotiated some of the largest and most complex administrative-enforcement settlements between Israeli companies and the Israeli Securities Authority ("ISA"). We specialise in all aspects of capital and debt funding and have special expertise in securities-related transactions. We are experts in advising on public equity and debt offerings, corporate finance transactions, asset management activity, as well as on ongoing activities, reporting and regulatory requirements, investment banking and more.
Our department principally provides advice in the following areas:
- Publicly-Traded Companies and Public and Private Issuances of Securities – advising on public offerings (equity and debt) and private placements of securities globally, in various Stock Exchanges (e.g. the Tel Aviv Stock Exchange, New York Stock Exchange, NASDAQ, London Stock Exchange, AIM, Singapore Exchange and more).
- Ongoing Advice to Publicly-Traded Companies – advising on ongoing activities, reporting requirements and other regulated matters such as: M&A, finance or bond transactions, partnership and joint-venture ongoing advisory services, shareholder agreements, voting agreements, advising management, board and independent committees, advising on officer service agreements and compensation, compensation policies, option plans and agreements, change of control agreements (including during proxy fights), anti-takeover measures and minority protectionissues
- Alternative Investment Practice – advising in this regard includes "out of the box", unique, and unprecedented public offering structures, discussions with the ISA and preparation of public offering prospectuses.
- Asset Management – assisting entities in their investments, capital market-related activity and in adapting their internal work procedures to comply with the ever-changing regulatory requirements. We advise on issues concerning provident funds, mutual funds, portfolio management, stock-exchange members’ activity, ETFs and underwriting, distribution of traded securities and insurance agencies' activity.
- Regulatory Advice on Corporate and Securities Matters – advising on regulatory requirements, market customs and Fintech products offerings for transactions, general investment matters, ongoing activity of provident fund and mutual fund managers as well as portfolio management issues.
- Private Investment Funds, Foreign Stock Exchanges and Online Financial Platforms – advising international regulators (such as FCA, SEC, etc.) with respect to their entrance into activity in Israel.
- Advising on cross-border investment management, investment banking and securities brokering, as well as the regulatory and licensing implications of cross-border services.
- Social Finance & Crowdfunding
- Anti-takeover measures and strategic investors – including advice on dealing with against activist shareholders, hostile takeovers and similar issues. Our department is a pioneer in this field, advising on ground-breaking issues which have not yet been brought to courts in Israel.
- The Israeli Anti-Concentration Law – advising entities and high net worth individuals and families by analysing the applicability of the Anti-Concentration Law on a case-by-case basis, in order to provide a "tailor-made" solution for the client, including with respect to cross-holding issues.
- Trading platforms, stock exchanges and distribution of financial assets – advising international and Israeli trading platforms and stock exchanges in various unique fields related to their activities, with respect to both regulatory issues and business-legal issues. The team also provides regulatory advice to worldwide leading investment houses, investment marketers, portfolio managers, investment advisors, local distributors, numerous private funds, international banks and other financial institutions in various issues related to public offerings and investment advice, including in connection with global funds.
- Prime Services, Equities – advising foreign financial institutions in relation to settlement/payment systems and custodian and clearing arrangements on the TASE and TACH, both in their capacity as market traders and as prospective members of the TASE.
Nir Dash
Partner
Ran Hai
Partner
Capital Markets & Securities News & Insights
A significant step towards opening the Israeli capital market to the largest and most professional asset managers in the world!
Welcome to Israel – Traded Foreign Funds Managers
Client Update – Foreign Funds Approved Stock Exchanges for the Purpose of Double Listing of Foreign Funds The Israeli Ministry
Foreign Funds Approved Stock Exchanges for the Purpose of Double Listing of Foreign Funds
Herzog advises Invesco Investment Management Limited and Invesco UK Services Limited (“Invesco”) on its Dual Listing of 5 ETF’s on
Herzog welcomes Invesco for the registration of ETFs in the Tel Aviv Stock Exchange
Our partner, Adam Salkin, in collaboration with Tech It Forward, has shared his insights on UK VCs investing in Israeli tech companies.
Partner Adam Salkin shared his insights on UK VCs investing in Israeli tech companies
Our team loved taking part in a unique transaction pursuant to which General Atlantic, a leading global growth equity investor,
General Atlantic, a leading global growth equity investor, has become a significant investor in Chess.com
Client Update – Updates Regarding the Equity and Insurance Obligations of Licensees under the Investment Advice Law On December 19,
Updates Regarding the Equity and Insurance Obligations of Licensees under the Investment Advice Law
Oddity, the parent company of the beauty brand IL MAKIAGE has closed a $130M secondary sale round. The round, which values the
Our client IL MAKIAGE has closed a $130M secondary sale round
Our client, MESHEK ENERGY (MSKE) – Renewable Energies, has signed an agreement to purchase 40% of Dalia Energy Companies’ shares, the owner
Our client, MESHEK ENERGY, has signed an agreement to purchase 40% of Dalia Energy Companies’ shares
MSCI, one of the largest index providers in the world, is re-considering the Regional Classification of Israel. In particular, MSCI
MSCI is considering adding Israel to MSCI Europe Index and has published an online survey for this purpose
On November 22, 2021 the Israeli Securities Authority (“ISA”) issued its decision to permit Exchange Traded Funds (“ETFs”) listed on
New business opportunities for ETFs in Israel
Leaderim, leading insurance broker in Israel, arranging commercial insurance portfolios and providing independent insurance consultancy services, have signed an agreement
Leaderim have signed an agreement for the sale of its business to the Willis Watson Tower group
Nir Dash
Partner
Capital Markets & Securities, Corporate, Mergers & Acquisitions, Privatisation & Restructuring
Ayelet Regavim Kahanov
Partner
Banking & Finance, Capital Markets & Securities, Corporate, Financial Regulation
Joshua Ravitz
Partner
Capital Markets & Securities, Corporate, Litigation & Disputes, Mergers & Acquisitions
Liat Maidler
Partner
Banking & Finance, Capital Markets & Securities, Corporate, Financial Regulation
Ory Nacht
Partner
Capital Markets & Securities, Commercial, Corporate, Hi Tech, Mergers & Acquisitions
Ron Ben-Menachem
Partner
Capital Markets & Securities, Corporate, Corporate Finance, International Trade & National Security, Mergers & Acquisitions, Privatisation & Restructuring
Tom Waltner
Partner
Banking & Finance, Capital Markets & Securities, Corporate, Financial Regulation, Insurance
Aviv Amar
Associate
Banking & Finance, Capital Markets & Securities, Commercial, Corporate, Financial Regulation
Daniel Kaczelnik
Associate
Banking & Finance, Capital Markets & Securities, Corporate, Financial Regulation
Dor Bar-Haim
Associate
Banking & Finance, Capital Markets & Securities, Corporate, Financial Regulation, White Collar
Keren Nightingale
Associate
Capital Markets & Securities, Commercial, Corporate, Mergers & Acquisitions
Ohad Graub
Associate
Capital Markets & Securities, Commercial, Corporate, Financial Regulation, Mergers & Acquisitions
Or Hoffer
Associate
Capital Markets & Securities, Corporate, Financial Regulation, Mergers & Acquisitions
Shani Avner
Associate
Banking & Finance, Capital Markets & Securities, Corporate, Financial Regulation
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