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David Yuill

Partner | Johannesburg

David-Yuill

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Contact

T: +27 11 669 9415

Overview

David Yuill is a partner in our Johannesburg office and a member of our Corporate department.

He specialises in equity capital markets, corporate finance, M&A and general securities and corporate law. David also advises in the field of black economic empowerment transactions.

In the capital markets area, he has considerable experience acting as both company and bookrunners’ counsel on a number of significant ECM transactions, including IPO’s, inward listings, rights offers, accelerated bookbuilds and other equity placings.

David Yuill is individually ranked as Band 2 by Chambers and Partners for Capital Markets (Equity) for 2018.

Experience

Some of David’s recent transactional experience includes advising:

  • counsel to Rand Merchant Holdings Limited in relation to the recently announced ZAR 130 billion unbundling of its significant shareholding in FirstRand Limited, one of South Africa’s largest financial services group companies, by way of distribution in specie to its shareholders
  • counsel to Royal Bafokeng Platinum Limited in relation to:
    • its ZAR 1.86 billion 2018 acquisition of the remaining 33% interest in its joint venture with Anglo Platinum Limited;
    • a ZAR 1.2 billion convertible bond offering in 2017;
    • various capital raisings, including two rights offers and accelerated bookbuilds;
  • counsel to Investec Bank Limited as bookrunner to Investec Property Fund Limited in relation to a proposed 2019 capital raising by way of accelerated bookbuild;
  • counsel to Morgan Stanley & Co. International Plc and FirstRand Bank Ltd) in relation to a placing of ZAR 1.85 billion of ordinary shares in Discovery Ltd.
  • counsel to Investec Bank Ltd in relation to its role as sole book-runner in respect of an issue of shares as a vendor consideration placing by Blue Label Telecoms Ltd via an accelerated bookbuild
  • Citi Bank, Investec, Morgan Stanley, RMB, J.P. Morgan and Standard Bank of South Africa Limited, as joint global co-ordinators and joint bookrunners, in relation to the ZAR 78 billion listing of the issued ordinary shares in consumer services company Steinhoff Africa Retail Limited on the JSE.
  • Dis-Chem Pharmacies Limited in relation to its 2016 IPO;
  • RMB and Morgan Stanley, in their capacity as joint bookrunners to The Foschini Group Limited in relation to its accelerated bookbuild vendor consideration placement to raise approximately ZAR 2.5 billion to repay a bridge facility that was used for the acquisition of Australian clothing retailer, Retail Apparel Group;
  • Investec, acting as bookrunner, in relation toan accelerated bookbuild placing of Clicks Group Limited shares that were held by Clicks Group Employee Share Ownership Trust;
  • Dis-Chem Pharmacies in relation to a 2017 accelerated bookbuild placement of Dis-Chem shares by Investec, Goldman Sachs and Standard Bank, acting as joint bookrunners for Ivlyn Proprietary Limited, Stansh Proprietary Limited and Niajul Proprietary Limited;
  • RMB as sole global coordinator and bookrunner in the recent listing of Ethos Capital on the JSE as an investment entity;
  • Alexander Forbes Group Holdings Limited in relation to its IPO by way of a dual-track process;
  • Virgin Active Group Holdings plc in relation to its proposed 2015 IPO;
  • Royal Bafokeng Platinum Limited in relation to a combined offering of its shares (involving a primary issue by the company, and a secondary issue by its shareholders) and its’ listing on the JSE, which took place in November 2010, as well as a subsequent rights offers in 2014 and 2019, accelerated bookbuild in 2018 and a convertible bond offering in 2017;
  • Delta Property Fund Limited in relation to a private placement and listing on the JSE on 2 November 2012, and a subsequent rights offer in 2013;
  • the bookrunners of Woolworths Holdings Limited’s ZAR 10 billion rights offer, concluded in 2014;
  • Spar Group in relation to its a 2016 accelerated bookbuild;
  • Singaporean sovereign-wealth fund Temasek Holdings in relation to its subscription for USD 100 million worth of convertible debentures in Platmin Limited, a Canadian-listed company involved in platinum mining in South Africa; and
  • the underwriters of Mix Telematics offering of American Depositary Receipts in the United States.

Awards

  • Chambers and Partners consistently ranked David in Band 2 for Capital Markets: Equity, for the past seven consecutive years (2018 to 2024).

‘David is excellent. He provides sound advice, is responsive and is thoroughly pleasant to work with.’ – Chambers and Partners, 2024

AREA OF EXPERTISE

Qualifications

  • BA and LLB degrees from Stellenbosch University.
  • BCL from the University of Oxford, UK.

INSIGHTS

Related Sectors

Overview

David Yuill is a partner in our Johannesburg office and a member of our Corporate department.

He specialises in equity capital markets, corporate finance, M&A and general securities and corporate law. David also advises in the field of black economic empowerment transactions.

In the capital markets area, he has considerable experience acting as both company and bookrunners’ counsel on a number of significant ECM transactions, including IPO’s, inward listings, rights offers, accelerated bookbuilds and other equity placings.

David Yuill is individually ranked as Band 2 by Chambers and Partners for Capital Markets (Equity) for 2018.

Experience

Some of David’s recent transactional experience includes advising:

  • counsel to Rand Merchant Holdings Limited in relation to the recently announced ZAR 130 billion unbundling of its significant shareholding in FirstRand Limited, one of South Africa’s largest financial services group companies, by way of distribution in specie to its shareholders
  • counsel to Royal Bafokeng Platinum Limited in relation to:
    • its ZAR 1.86 billion 2018 acquisition of the remaining 33% interest in its joint venture with Anglo Platinum Limited;
    • a ZAR 1.2 billion convertible bond offering in 2017;
    • various capital raisings, including two rights offers and accelerated bookbuilds;
  • counsel to Investec Bank Limited as bookrunner to Investec Property Fund Limited in relation to a proposed 2019 capital raising by way of accelerated bookbuild;
  • counsel to Morgan Stanley & Co. International Plc and FirstRand Bank Ltd) in relation to a placing of ZAR 1.85 billion of ordinary shares in Discovery Ltd.
  • counsel to Investec Bank Ltd in relation to its role as sole book-runner in respect of an issue of shares as a vendor consideration placing by Blue Label Telecoms Ltd via an accelerated bookbuild
  • Citi Bank, Investec, Morgan Stanley, RMB, J.P. Morgan and Standard Bank of South Africa Limited, as joint global co-ordinators and joint bookrunners, in relation to the ZAR 78 billion listing of the issued ordinary shares in consumer services company Steinhoff Africa Retail Limited on the JSE.
  • Dis-Chem Pharmacies Limited in relation to its 2016 IPO;
  • RMB and Morgan Stanley, in their capacity as joint bookrunners to The Foschini Group Limited in relation to its accelerated bookbuild vendor consideration placement to raise approximately ZAR 2.5 billion to repay a bridge facility that was used for the acquisition of Australian clothing retailer, Retail Apparel Group;
  • Investec, acting as bookrunner, in relation toan accelerated bookbuild placing of Clicks Group Limited shares that were held by Clicks Group Employee Share Ownership Trust;
  • Dis-Chem Pharmacies in relation to a 2017 accelerated bookbuild placement of Dis-Chem shares by Investec, Goldman Sachs and Standard Bank, acting as joint bookrunners for Ivlyn Proprietary Limited, Stansh Proprietary Limited and Niajul Proprietary Limited;
  • RMB as sole global coordinator and bookrunner in the recent listing of Ethos Capital on the JSE as an investment entity;
  • Alexander Forbes Group Holdings Limited in relation to its IPO by way of a dual-track process;
  • Virgin Active Group Holdings plc in relation to its proposed 2015 IPO;
  • Royal Bafokeng Platinum Limited in relation to a combined offering of its shares (involving a primary issue by the company, and a secondary issue by its shareholders) and its’ listing on the JSE, which took place in November 2010, as well as a subsequent rights offers in 2014 and 2019, accelerated bookbuild in 2018 and a convertible bond offering in 2017;
  • Delta Property Fund Limited in relation to a private placement and listing on the JSE on 2 November 2012, and a subsequent rights offer in 2013;
  • the bookrunners of Woolworths Holdings Limited’s ZAR 10 billion rights offer, concluded in 2014;
  • Spar Group in relation to its a 2016 accelerated bookbuild;
  • Singaporean sovereign-wealth fund Temasek Holdings in relation to its subscription for USD 100 million worth of convertible debentures in Platmin Limited, a Canadian-listed company involved in platinum mining in South Africa; and
  • the underwriters of Mix Telematics offering of American Depositary Receipts in the United States.

Awards

  • Chambers and Partners consistently ranked David in Band 2 for Capital Markets: Equity, for the past seven consecutive years (2018 to 2024).

‘David is excellent. He provides sound advice, is responsive and is thoroughly pleasant to work with.’ – Chambers and Partners, 2024

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