Capital Markets

Overview

A public offering, or listing of securities for trade on a stock exchange, is an important milestone in the life of any company. Securities laws are highly regulated and require in-depth knowledge and constant monitoring of regulatory and other updates. The top-ranked Capital Markets Department at Arnon, Tadmor-Levy has extensive experience in this area.

We have taken part in numerous public offerings on the Tel Aviv Stock Exchange (TASE), and more than 100 issuances of stocks and debentures on the U.S. and European markets. Our additional expertise includes working with dual listings and with innovative structures, such as spin-offs and restructuring. We also have deep knowledge of U.S. securities laws, and experience working with the U.S. Securities and Exchange Commission (SEC).

Issuers, Shareholders and Underwriters

Our Capital Markets Department represents issuers (for example, helping them to draft prospectuses), issuer shareholders (who are offering their shares in the issuance) and underwriters. Our clients are global and are publicly listed in Israel or abroad.

Representing some of the largest companies in Israel, as well as their boards of directors and independent subcommittees of their boards, our team offers comprehensive, ongoing guidance regarding their routine reporting duties, fiduciary and other obligations, communications with the applicable stock market and regulators, and relevant corporate governance and securities laws.

Issuances on Foreign Stock Exchanges

Arnon, Tadmor-Levy has handled many public issuances on foreign stock exchanges. Thanks to our global networking with leading foreign law firms, we are able to provide comprehensive representation tailored to any issue arising in connection with public issuances and the life of a public company after an issuance, in Israel or anywhere in the world. The firm represents clients listed on the TASE, the Nasdaq, the London Stock Exchange’s AIM, and the Australian Securities Exchange (ASX).

Corporate, Derivates and Securities-Related Litigation

The Litigation Department at Arnon, Tadmor-Levy is recognized for its expertise in handling derivatives and securities-related actions. Claims of this kind are becoming increasingly common, as minority shareholders make use of derivative actions to sue third parties on behalf of their company. We have a proven track record in representing both plaintiffs and defendants in complex securities-related litigation, including boards of directors, shareholders, controlling shareholders and creditors.

Algo Trading

Historically, the epicenter of a stock market was the trading floor, where brokers met to buy and sell stocks. Today, a significant volume of trades are made by algorithms, enabling trading of hundreds and thousands of shares in fractions of milliseconds. Algorithms have also begun to replace investors, in a field known as algo trading or High Frequency Trading (HFT). Such automated transactions give rise to numerous legal issues.

Standing at the forefront of this technological-legal arena, Arnon, Tadmor-Levy is positioned to advise a wide range of clients. This includes public companies whose securities are traded by buyer and seller algorithms, clients who are developing algo trading capabilities and require advice on compliance with evolving laws and regulations, and clients investing in securities who seek to take advantage of algo trading as a means of risk control.

What the team is known for, Chambers Global | 2024

“At every step of the way, the firm showed a creative and rigorous spirit, coming up with new creative solutions and giving us the edge, time after time.”

“The team demonstrated high awareness and a proactive approach to support our company’s ideas and provide a range of tools and insights towards new solutions.”

What the team is known for, Chambers Global | 2023

“Arnon, Tadmor-Levy has a notable capital markets team with impressive domestic and cross-border capabilities. It is skilled at representing both issuers and underwriters, and has proven expertise handling complex mandates relating to dual-listed companies and debt arrangements. It has a wealth of experience advising on IPOs and debt issues and offers wide industry expertise, with major clients in the life sciences, real estate and telecoms sectors, among others.’

“Arnon are an excellent team. They are a true business partner and are sharp, accurate and creative.”

“They provide innovative solutions to complex matters.”

Client Testimonials, The Legal 500 | 2023

“Arnon, Tadmor-Levy’s capital markets practice is a well-established and well-renowned practice in Israel. It is recognized for its professionalism and the superb services it renders to its clients, mainly in the capital markets and M&A practice areas.”

The team is comprised of very proficient, experienced, smart, business-oriented lawyers.”

I am always impressed by the team’s professionalism and availability. Its professional products and advice are always spot on and lawyers are courteous and responsive.”

Recognition