For the first time in five years, Africa has seen no cross-border Initial Public Offerings in the first six months of 2017. Baker & McKenzie partner and head of the Banking & Finance Practice Group in Johannesburg, Wildu du Plessis, discusses the African cross-border Initial Public Offerings market and current trends in the local equity and capital markets. Click here to watch the interview originally recorded on ENCA TV (South Africa).
It has already been five years since the South African legislature introduced business rescue, a corporate restructuring procedure, which given the current economic climate is a concept that most corporates should now be familiar with. Despite its progressive intentions and increasing popularity, business rescue is often abused, usually by directors and stakeholders who have in-depth knowledge of the affairs of the company, the causes and consequences of the financial demise of the company, and who are often the initiators of the process.