- We have a solid experience in the rapidly evolving area of securities transactions, going back to the origins of the Caracas Stock Exchange in 1947, the first President of which was one of the founding members of our firm. We currently counsel the Caracas Stock Exchange, for whom we recently worked in the development and public offer of new products similar to index-tracking stock and bond portfolios: the “Jewels”.
- When the securities transactions regulating body, the Comisión Nacional de Valores, was created, one of our partners was a member of its board of directors, and, since then, we have assumed an important role as attorneys for (i) companies traded in the stock markets, (ii) brokers, (iii) investment banking firms, (iv) stock exchanges and (vi) the Comisión Nacional de Valores itself regarding specific cases.
- Our experience in the placing of public offers is not limited to the Venezuelan market; we have participated in many international public offerings. In Venezuela and abroad, we have counseled the issuers, as well as the largest brokerage and investment banking firms involved in such transactions, for instance we participated in the international public offering of Global Depository Receipts (GDRs) involving Venezuelan companies, among them, the ADS of the major Venezuelan telecommunications corporation: Compañía Anónima Nacional Teléfonos de Venezuela (CANTV). We counsel many of largest companies listed on the Caracas Stock Exchange with respect to their securities transactions. We were very active in assisting Telefónica Internacional de España, the second shareholder of CANTV, in its defense against the attempted and failed hostile takeover of the latter by AES Corporation. One of our partners is a member of the Advisory Board of the World Securities Law Report.
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