Hamed Afzal

Hamed Afzal
Biography
Hamed Afzal is a capital markets lawyer based in the Dubai office (and who also spends a significant amount of his time in Riyadh). He has broad experience spanning debt and equity capital markets and public company matters.
Hamed has experience advising corporates, sovereigns, leading financial institutions and corporate trustees on conventional and Shariah compliant debt capital markets matters across product lines (including Sukuk, investment grade and high yield conventional bonds, regulatory capital issuances, securitization/asset backed instruments and restructurings).
On the equity capital markets side, Hamed also advises corporates and leading investment banks on initial public offerings, capital increases and other secondary offerings, block trades, technical listings and other related transactions across numerous regional and international listing venues. Hamed also has significant experience advising various stakeholders on public company related matters.
Professional experience
Representative experience
Representative experience
- Rawasi Al Bina Investment Company – in relation to the establishment of, and first issuance under, its SAR500,000,000 public offer based Sukuk programme. This was the first “public offer” Sukuk transaction to be approved by the Capital Market Authority under its more streamlined debt issuance rules published at the end of 2024.
- Tamweel Aloula - one of the Kingdom of Saudi Arabia’s leading finance companies, on the establishment of its inaugural SAR 500m Additional Tier 1 Capital perpetual Sukuk issuance programme and its initial issuances. The programme was the first of its kind to be established by a non-bank financial institution in the Kingdom.
- Al Khaleej Training and Education – a leading Saudi Exchange listed company, in relation to its proposed capital increase for the purposes of an acquisition an 80 percent stake in Adwaa Al-Hedaya Private Schools for Boys and Girls (Adwaa Al-Hedaya) from investment company.
- CME Group - in relation to the binding agreement entered into with Saudi Tadawul Group Holding Company (STG), for STG to acquire a 32.6 percent stake in in Dubai Mercantile Exchange (DME), one of the leading international commodities exchanges, creating Gulf Mercantile Exchange.
- Saudia, as selling shareholder - in relation to the initial public offering and listing on the Main Market of the Saudi Exchange of SAL Saudi Logistics Services Company, one of the largest IPOs by value in Saudi Arabia in 2023.
- The Sole Arranger - in relation to the circa. SAR6 billion perpetual Sukuk issued by Azmeel Construction Company in connection with its broader financial restructuring, which was the first time perpetual Sukuk was used in Saudi Arabia in the context of a restructuring.
- The Sole Arranger - on the issuance of a SAR 2.86 billion perpetual sukuk by Arkad Engineering & Construction, a leading oil and gas engineering and construction contractor in the Kingdom of Saudi Arabia.
- A leading global financial technology business - in relation to its proposed initial public offering in the United Arab Emirates and internationally on a Regulation S/Rule 144A basis and associated proposed listing on the Abu Dhabi Securities Exchange.
- A leading engineering consultancy company in the Kingdom of Saudi Arabia - in relation to its proposed initial public offering and listing on the Main Market of the Saudi Exchange.
- A leading digital marketing company in the Kingdom of Saudi Arabia - in relation to its proposed initial public offering and listing on the Main Market of the Saudi Exchange.
- A leading management consultancy company in the Kingdom of Saudi Arabia - in relation to its proposed initial public offering and listing on the Parallel Market (Nomu) of the Saudi Exchange.
- A leading data centre business in the Kingdom of Saudi Arabia - in relation to its proposed initial public offering and listing on the Parallel Market (Nomu) of the Saudi Exchange.
- Dar Global PLC, spun out from Dar Al Arkan - in relation to its listing on the London Stock Exchange and associated pre-IPO private placement to GCC based investors.
Rankings and recognitions
Rankings and recognitions
- "Rising Star" for Capital Markets and Islamic Finance, IFLR 1000, 2018-2024
- "Next Generation Lawyer" for Capital Markets, Legal 500, 2017-2020
- "Up and Coming: Capital Markets: Debt”, Chambers Global, 2023-2024
- "Rising Star" award for Equity Capital Markets and Debt Finance, IFLR EMEA - wide Rising Star Awards, 2022
Education
Education
- Law LLB, King's College London, 2006
Admissions
Admissions
- Admitted as a solicitor England and Wales 2009
Languages
Languages
- English
- Persian