Capital markets law
Capital market transactions pose a variety of legal issues. This applies, in particular, to typical forms of transactions such as IPOs, capital increases or the issuance of corporate bonds. In most cases, issuing prospectuses have to be drawn up and complex contracts between the issuer and the underwriting banks need to be negotiated.
A financing via the capital market often turns out to be attractive also for SMEs and the real estate and energy sectors. The key to success in this context is a careful structuring. Taking into account the interconnection between the specific financing needs and the balance sheet structure on the one hand and the expectations of the targeted investors on the other is of particular relevance.
The legal framework for alternative forms of financing has seen continuous further development. Since 2013, the threshold for the obligation to publish a prospectus has been raised gradually; the adoption of the Austrian Alternative Financing Act (Alternativfinanzierungsgesetz) in 2015 established a legal context for crowdfunding of smaller transactions. Digital forms of financing as well as green and responsible financing will accompany us into the future.
In addition to initial public offerings, capital increases and bond issues, our legal expertise also encompasses the structuring of investments and accompanying their placement in the form of public offers, private placements and other alternative forms.
We provide advice for potential issuers as well as issuing banks and offer our clients extensive support with respect to the structuring of issuances, contractual implementation and implementation under company law, drafting of the issuing prospectus, approval procedures as well as advertising and public relations in connection with issuances.
Providing ongoing advice to listed companies, for example with respect to issues under stock exchange law or corporate governance is another main focus of our work. Our expertise on capital market requirements is complimented by providing advice on issues of supervisory laws.
Our Team of Lawyers
The fwp partners responsible for capital markets law are Paul Luiki and Markus Fellner. Their team members have long-standing and extensive experience in capital markets law, have authored numerous publications and appear as speakers at symposiums and seminars.