Ranking tables

Capital Markets: Equity | Global

South Africa

This section covers all areas of specialism that fall within the wider capital markets space. For South Africa, the section is divided into Equity Capital Markets and Debt Capital Markets. Advice on equity capital markets includes transactions such as IPOs, follow-on offerings, right offerings, capital increases, ADR/GDR offerings, accelerated bookbuilds and block trades. This table also considers regulatory securities work. Debt Capital Markets covers investment grade debt offerings such as bond issues, MTN programmes and commercial paper programmes. We also consider securitisation and convertibles. Although Capital Markets is separated into two ranking tables, law firms should provide one single submission containing both equity and debt capital markets work.

Rankings overview for Departments

All Departments profiles

1

Band 1

  1. Bowmans
    1
    Bowmans
    Capital Markets: Equity
    2026 | Band 1 | 15 Years Ranked

    Bowmans offers a deep bench of experienced lawyers with an outstanding reputation in both debt and equity capital markets in South Africa. The team is involved in a variety of domestic and cross-border matters, and it frequently assists major regional and international financial institutions and corporates with high-value note programmes and bond issuances. The department is equally well versed in IPOs, inward listings, accelerated bookbuild share placements and black cconomic empowerment matters. The team regularly acts as counsel to bookrunners and underwriters as well as issuers, and provides counsel on regulatory developments concerning the Johannesburg Stock Exchange.

  2. Webber Wentzel
    1
    Webber Wentzel
    Capital Markets: Equity
    2026 | Band 1 | 15 Years Ranked
    Webber Wentzel operates a distinguished practice across debt and equity capital markets, with an impressive bench and first-rate experience of cross-border inward listings. The firm regularly appears on some of the largest deals in South Africa. It is highly regarded for its representation of issuers, and also has a significant practice advising bookrunners and arrangers. The team's expertise covers the full spectrum of capital markets matters, while its client base includes leading national and international financial institutions and household names from various sectors. The department possesses further experience assisting with corporate restructuring and unbundling mandates, as well as the resulting listings changes. Webber Wentzel offers impressive cross-border capabilities, enhanced by its alliance with Linklaters.
2

Band 2

  1. Cliffe Dekker Hofmeyr
    2
    Cliffe Dekker Hofmeyr
    Capital Markets: Equity
    2026 | Band 2 | 15 Years Ranked

    Cliffe Dekker Hofmeyr houses an established capital markets group featuring skilled lawyers and offering comprehensive coverage of both the debt and equity markets. The law firm possesses notable experience assisting with exchange licence applications, IPOs, note issuances and securities regulatory issues in South Africa and abroad. Its team services a broad roster of clients, including domestic and regional financial institutions and an impressive assortment of corporate entities.

  2. ENS
    2
    ENS
    Capital Markets: Equity
    2026 | Band 2 | 15 Years Ranked
    ENS houses a capital markets team that is especially prominent in the debt space and regularly advises clients on MTN programmes, high-value note issuances and a range of other matters. The law firm acts for a number of major clients in the financial services, manufacturing and logistics sectors as well as a range of domestic and multinational banking bodies, notable pension funds and investment organisations. Its outstanding debt expertise is complemented by a strong equity practice, covering private placements, public offerings and listings. The department also possesses notable experience handling international capital raises.