Hamed Afzal
Partner
Norton Rose Fulbright (Middle East) LLP
Related services and key industries
Biography
Hamed Afzal is an English-qualified capital markets lawyer based in Dubai office. 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 global investment banks on initial public offerings, 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
Collapse all- Law LLB, King's College London, 2006
- Admitted as a solicitor England and Wales 2009
- 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.
- Capital Investments (DIFC) Ltd. and Capital Investments and Brokerage Company / Jordan Ltd. - as the sole structuring agent and manager, respectively, in respect of Capital Bank of Jordan's inaugural $100m Reg S perpetual Basel III-compliant additional tier 1 capital securities offering. The issuance is the first-ever additional tier 1 capital securities offering out of Jordan. The capital securities have been admitted to trading on Nasdaq Dubai.*
- Kuveyt Türk Katilim Bankasi A.S. ("Kuveyt Turk"), one of the leading Turkish participation banks majority - owned by Kuwait Finance House, on the landmark issuance of US$350m of fixed-rate resettable sustainability Tier 2 certificates due 2031, listed on the Irish Stock Exchange plc (Euronext Dublin). This is the world's first sustainable regulatory capital sukuk issuance.*
- 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.
- 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.
- 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.
- A leading global sovereign wealth fund - in its capacity as selling shareholder in relation to a proposed initial public offering and listing of a private equity business on a European regulated market.*
- A leading sovereign wealth fund in Abu Dhabi - in relation to a proposed acquisition of a significant stake of one of the leading financial institutions in the Arab Republic of Egypt listed on the Cairo stock exchange.*
- A leading water desalination 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 laboratories 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 healthcare 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.*
Numerous international and GCC based companies - in comparing appropriate listing venues for anticipated IPOs, including in relation to corporate governance regimes and disclosure obligations.*
* Work completed prior to Norton Rose Fulbright.
- "Rising Star" for Capital Markets and Islamic Finance, IFLR 1000, 2018-2023
- "Next Generation Lawyer" for Capital Markets, Legal 500, 2017-2020
- "Rising Star" award for Equity Capital Markets and Debt Finance, IFLR EMEA - wide Rising Star Awards, 2022
- English
- Persian
Insights
Maybe Capital Markets lawyers can finally feel like super-heroes
Publication | February 16, 2024
Middle East Capital Markets Watch: DCM
Publication | September 21, 2023
Middle East Capital Markets Watch: ECM
Publication | May 12, 2023