Capital Markets
“Detailed in their work, ensuring quality of advice. Proposes solutions when faced with issues. Adopts a commercial mindset when resolving issues.”
The Legal 500 Asia-Pacific 2025
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Capital Markets Experience →
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Capital Markets Team →
Meet our regional team of experienced lawyers
Asia has witnessed strong growth in both equity and debt capital markets, driven by factors such as economic development, infrastructure financing, financial inclusion, and innovation. However, the region also has to deal with various challenges, such as geopolitical uncertainties, regulatory divergences, market volatility, and environmental, social, and governance (ESG) risks. Rajah & Tann Asia is a leading legal partner for capital markets transactions in Southeast Asia, with a strong track record of advising on complex and innovative deals across the region. Attuned to securities laws and market developments worldwide, our team has an outstanding track record in successfully handling major initial public offerings (IPOs), listings and bond issues. We are also experts in secondary fundraisings – domestically, regionally and internationally.
Yet, our true distinction lies in our ability to provide exacting advice and services in novel and difficult transactions, helping you to fuel the sustained growth of your enterprise. As geopolitics, price volatility, ESG mandates and other pressures on the world economy bleed into global capital markets, there is a need to be on your toes to remain resilient in the face of challenges.
Featured insights
Regional Guide on Listings & Initial Public Offerings in Southeast Asia
Rajah & Tann Asia’s regional guide on listings and initial public offerings (IPOs) in Southeast Asia prepared by law firms which are part of the Rajah & Tann Asia network. This guide gives an overview of the key requirements and processes involved in listing and initial public offerings in Singapore, Indonesia, Malaysia, Thailand, Cambodia and Vietnam.
Capital Markets Legal Services
- Advising on all aspects of IPO processes, including prospectus preparation, regulatory filings, and compliance with listing rules.
- Assisting with placements, rights issues, and follow-on offerings, ensuring compliance with listing and disclosure requirements.
- Structuring and advising on the issuance of convertible bonds, notes, and other structured debt instruments listed on exchanges.
- Providing legal advice on securitisation, asset-backed securities, and compliance with listing requirements for structured products.
- Advising on the listing and regulatory compliance of collective investment schemes, including mutual funds and hedge funds.
- Legal advice on the listing of convertible bonds, exchangeable bonds, and warrants on stock exchanges, ensuring regulatory compliance.
- Ensuring compliance with securities regulations, stock exchange rules, and timely filings required for listing on exchanges.
- Legal guidance on the listing of high-yield and investment-grade bonds, including regulatory approvals and filings.
- Legal services for the restructuring and refinancing of debt instruments, ensuring compliance with listing and securities regulations.
- Drafting and submitting prospectuses, circulars, and other securities filings required for listing on stock exchanges.
Regional Expertise in Asia Pacific
The Rajah & Tann Asia Capital Markets team has been widely recognised as Top Tier and able to handle the most complex and ground breaking transactions in equity and debt capital market transactions across all sectors.
Our regional team is widely regarded to have the most technically proficient lawyers with the relevant ground experience and rapport built up over the years with regulators and other professionals instrumental to the success of capital market transactions.
We represent clients in the following areas:
- Equity Capital Markets
- Debt Capital Markets
Equity Capital Markets
We advise issuers, issue managers, underwriters, and originators on initial public offerings and listings—including reverse takeovers and dual listings—on securities exchanges in Cambodia, Indonesia, Malaysia, Singapore, and other recognised markets such as the stock exchanges of Hong Kong, Korea, and NASDAQ. We also assist with listings of real estate investment trusts (REITs) and business trusts on the Mainboard of the Singapore Exchange (SGX-ST).
We have a strong track record of acting for foreign issuers from jurisdictions including China, Japan, India, Indonesia, Taiwan, and Australia. Our experience in cross-border transactions enables us to navigate the complex regulatory frameworks across multiple listing venues.
Our Cambodian office is one of the first registered law firms in Cambodia licensed to advise companies seeking to list on the Cambodia Securities Exchange. This allows us to provide on-the-ground support and legal expertise for clients expanding into or listing in the Cambodian market.
We also advise listed companies and investors on a wide range of transactions, such as placements, rights issues, secondary offerings, and the issuance of instruments like warrants, depository receipts, redeemable preference shares, and convertible loan stocks. Our services extend to advising on continuing listing obligations, corporate governance, disclosure requirements, and capital or corporate restructuring. Additionally, R&T Corporate Services Pte Ltd is among the first batch of continuing sponsors approved by the Singapore Exchange for Catalist-listed companies on the SGX-ST.
Debt Capital Markets
We are recognised in the field of debt capital markets as having highly creative lawyers with strong technical knowledge who can handle the full spectrum of complex and innovative debt capital market transactions. We are able to advise issuers, issue managers and underwriters, on both domestic and international offerings where we are able to tap the local expertise of our countries in Asia where Rajah & Tann has offices.
We frequently advise on foreign offerings of bonds by issuers having significant interests in the respective Asian countries, as well as exchange offers of debt instruments listed on various Stock Exchanges.
Specifically, our team of debt capital market lawyers are able to advise on:
- International Bond Issues (including MTN Programmes);
- Domestic Bond Issues (including Retail Products);
- Securitisation and Covered Bonds;
- Bank Capital Instruments;
- Equity-linked Debt; and
- Islamic bonds (Sukuk)
Landmark Capital Markets Matters
Related Links
Recognition
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Bands 1 & 2 - Capital Markets (Indonesia, Singapore)Chambers Asia-Pacific (2025)
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Tiers 1 & 2 - Capital Markets (Indonesia, Malaysia)The Legal 500 Asia-Pacific (2025)
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Tiers 1 & 2 - Equity Capital Markets (Indonesia, Singapore)IFLR1000 (2024)
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Tiers 1 & 2 - Debt Capital Markets (Indonesia, Singapore)IFLR1000 (2024)
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Tiers 1 & 2 - Capital Markets (Indonesia, Malaysia, Singapore)The Legal 500 Asia-Pacific (2025)
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Band 2 - Capital Markets: Securitisation & Derivatives (Singapore)Chambers Asia-Pacific (2025)
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Tier 2 - Capital Markets: Equity & Debt (Singapore)The Legal 500 Asia-Pacific (2025)
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Outstanding - Capital Markets (Indonesia, Singapore)asialaw (2024)
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Ranked - Corporate Commercial: Equity Capital Markets (Philippines)Chambers Asia-Pacific (2025)
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Ranked - Capital Markets (Philippines)The Legal 500 Asia-Pacific (2025)
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Ranked - Debt and Equity Capital Markets (Malaysia, Philippines, Thailand)IFLR1000 (2024)
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"The team was able to help us navigate through tough and complex situations even on short notice."Chambers Asia-Pacific (2025)
(Singapore) -
"One of the best teams in the Indonesian capital markets sector."The Legal 500 Asia-Pacific (2025)
(Indonesia) -
"Detailed in their work, ensuring quality of advice. Proposes solutions when faced with issues. Adopts a commercial mindset when resolving issues."The Legal 500 Asia-Pacific (2025)
(Singapore) -
"The Christopher & Lee Ong capital markets team is my go-to contact for Malaysian matters, as they are the best prepared in terms of regulations and market practice, and making sure the Malaysian side of a capital markets transaction fits smoothly alongside international aspects. They are always very proactive and prompt in addressing issues and a real pleasure to work with."The Legal 500 Asia-Pacific (2025)
(Malaysia)
Detailed in their work, ensuring quality of advice. Proposes solutions when faced with issues. Adopts a commercial mindset when resolving issues."
Our Capital Markets Team
Director, Rajah & Tann (Thailand) Limited
Foreign Counsel, Assegaf Hamzah & Partners
