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Salman Virani, Finance Expert in Toronto, ON, Canada
Salman Virani

Finance Expert in Toronto, ON, Canada

Member since August 7, 2020
Salman is an enterprising finance expert with nearly 15 years of experience in advising sponsor groups and C-level executives on corporate finance initiatives. He has directly executed deals worth around $3 billion (in aggregate), including mergers and acquisitions, financings, and capital markets across multiple geographies and a broad range of sectors. Through freelancing, Salman seeks opportunities to meet new people, take on new challenges, and put his global finance expertise to work.
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Career Highlights

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Case studies

Employment

  • Managing Director, Investment Banking

    2019 - 2021
    Next Capital Limited
    • Developed the financial model of Pakistan’s second-largest FMCG with a market cap of about $300 million; incorporated existing and proposed infrastructure, enhanced working capital, and funding needs for staples, fats, and animal feed businesses.
    • Served as advisor to the sponsors of an FMCG on their group's corporate restructuring and fundraising of $15 million from a Singapore-based global agriculture commodity giant via a PIPE structure.
    • Led the divestment of Orascom Telecom Holding in Egypt and invested in a submarine cable operator in Pakistan with a 40% market share and presence in both backhaul and FTTH business segments.
    • Guided the placement to institutional and HNWIs and the subsequent listing of $15 million in common equity Tier 1 (CET1)-eligible Sukuk for the fastest-growing Islamic Bank in Pakistan.
    • Advised on the financial restructuring of a company engaged in providing digital security and managed services.
    • Conducted structuring and fundraising for a $500 million REIT based out of UAE and Pakistan. Developed detailed financial projections, oversaw legal documentation, crafted information memorandum, and managed submissions with regulators.
    • Led $25 million fundraising for an edtech company with a presence in the Americas, MENA, and Asia regions. The company provides early learning, K-12, iSTEAM, and leadership education through digital channels and at affordable rates.
    Focus areas: Technology, Due Diligence, Education, Venture Capital, Real Estate, Cash Flow Modeling, Due Diligence Consultant, Venture Funding, Software as a Service (SaaS), SaaS, M&A (Sell-side), Financial Services, Investment Banking, Startup Funding, IFRS Financial Reporting, Forecasting, Revenue & Expense Projections, M&A (Buy-side), Microsoft Outlook, Microsoft Word, Debt Raises, Corporate Restructuring, Microsoft Excel, Fairness Opinion Reports, Finance, Valuation, Financial Modeling, Financial Restructuring, Fundraising, Mergers & Acquisitions (M&A), Key Performance Indicators (KPIs), Dashboard Design, Business Models

  • Senior Vice President & Head of Investment Banking

    2017 - 2019
    BMA Capital Management Limited
    • Advised Cargill Asia Pacific on a $30 million acquisition of a minority shareholding in FAP Terminal.
    • Provided advisory to Essity AB on the divestment of its operations in Pakistan.
    • Led the placement and listing of an $80 million CET1-eligible bond for United Bank Limited.
    • Led the $30 million equity fundraising via capital markets and the listing of AGP Limited, an Indian pharmaceutical company.
    • Led a $20 million fundraising (debt and equity) for setting up a hospitality cum residential real estate project.
    Focus areas: Technology, Due Diligence, Venture Capital, Real Estate, Cash Flow Modeling, Due Diligence Consultant, Venture Funding, Software as a Service (SaaS), SaaS, M&A (Sell-side), Financial Services, Investment Banking, Startup Funding, IFRS Financial Reporting, Forecasting, Revenue & Expense Projections, M&A (Buy-side), Microsoft Outlook, Microsoft Word, Debt Raises, Corporate Restructuring, Microsoft Excel, Fairness Opinion Reports, Finance, Valuation, Financial Modeling, Debt Issuance, Debt Capital Markets, Capital Markets, Fundraising, Mergers & Acquisitions (M&A), Key Performance Indicators (KPIs), Dashboard Design, Business Models, Biotechnology

  • Corporate Finance Manager

    2016 - 2017
    Midas Safety
    • Undertook the consolidation of subsidiaries into a Hong Kong-based holding company to create finance and tax synergies.
    • Evaluated banking needs and led the development of alternate relationships. Reduced finance costs by approximately 13% by renegotiating facilities in Bangladesh and Sri Lanka, and, consequently, banking concentration.
    • Developed KPI dashboards to monitor business performance and identify non-viable business lines and dilutive SKUs. Implemented a “fix or close” framework, which reduced costs by $6 million.
    Focus areas: Due Diligence, Cash Flow Management, Cash Flow Modeling, M&A (Sell-side), Investment Banking, CFO, IFRS Financial Reporting, Forecasting, Revenue & Expense Projections, Corporate Development, Investments, M&A (Buy-side), Pricing Models, Microsoft Outlook, Microsoft Word, Debt Raises, Corporate Restructuring, Microsoft Excel, Finance, Valuation, Financial Modeling, Financial Restructuring, Corporate Finance, Key Performance Indicators (KPIs), Dashboard Design, Business Models

  • Financial Planning | Analysis Manager

    2015 - 2016
    Kansai Paint Middle East
    • Led and completed the annual planning and budgeting exercise for eight subsidiaries in the MENA and CIS regions within a period of one month.
    • Assisted in the turnaround of a $15 million business in the UAE by undertaking a review of pricing strategy, cost controls, and monitoring of efficiency benchmarks for full-service application projects.
    • Led a debt raising worth six million dollars from the Islamic Corporation for Development to fund the company's accelerated growth plans.
    • Led the acquisition of a Saudi industrial paint company.
    • Raised $11 million for setting up an automotive paint manufacturing plant in Morocco and a paint resin manufacturing facility in the UAE.
    Focus areas: Due Diligence, Cash Flow Management, Cash Flow Modeling, Investment Banking, CFO, IFRS Financial Reporting, Forecasting, Revenue & Expense Projections, Corporate Development, Investments, M&A (Buy-side), Pricing Models, Microsoft Outlook, Microsoft Word, Microsoft Excel, Finance, Valuation, Financial Modeling, Financial Planning & Analysis (FP&A), Debt Raises, Mergers & Acquisitions (M&A), Key Performance Indicators (KPIs), Business Models

  • Senior Business Analyst

    2014 - 2015
    Engro Corporation Limited
    • Led the debt raising of $92 million for setting up Pakistan’s first LNG regasification terminal from a consortium comprising the Asian Development Bank, International Finance Corporation, and domestic commercial banks.
    • Led the divestment of a 20% shareholding in the LNG regasification terminal to International Finance Corporation for an amount of $15 million.
    • Assisted in reviewing and negotiating the loan documentation for a $2 billion coal mine and power project.
    • Enhanced shareholder returns by $45 million per year in an agribusiness by identifying operational restructuring and cost optimization opportunities.
    Focus areas: Due Diligence, Cash Flow Management, Cash Flow Modeling, Due Diligence Consultant, M&A (Sell-side), Investment Banking, CFO, IFRS Financial Reporting, Forecasting, Revenue & Expense Projections, Corporate Development, Investments, M&A (Buy-side), Pricing Models, Microsoft Outlook, Microsoft Word, Debt Raises, Corporate Restructuring, Microsoft Excel, Finance, Valuation, Financial Modeling, Financial Planning & Analysis (FP&A), Fundraising, Mergers & Acquisitions (M&A), Key Performance Indicators (KPIs), Business Models

  • Senior Manager, Investment Banking

    2009 - 2014
    Habib Bank Limited
    • Served as a founding team member of the advisory and equity capital markets business unit of Habib Bank.
    • Led the $162 million acquisition of Chevron's retail and fuel business by Total in France.
    • Led the $30 million acquisition of a 50% shareholding in Total Oils and 10% incremental shareholding in Total Parco Pakistan by Pak Arab Refinery.
    • Led the $60 million acquisition of Habibsons Bank Ltd by Habib Bank Limited (HBL Bank UK), resulting in a synergistic transaction and expansion of the private banking offering in the UK.
    • Led the $20 million acquisition of Citibank's consumer business by Habib Bank Limited to expand its presence in the Personal Banking segment.
    • Led the $160 million secondary public offering of Pakistan Petroleum Limited.
    • Led the debt raising of $220 million with a limited-recourse structure for two 50 MW wind power projects that were set up under a public-private partnership (PPP) model.
    • Advised on and participated in the arrangement of $350 million in debt financing with a limited-recourse structure for setting up a 147 MW run-of-the-river project under a PPP model.
    Focus areas: Due Diligence, Real Estate, Cash Flow Modeling, Due Diligence Consultant, M&A (Sell-side), Financial Services, Investment Banking, IFRS Financial Reporting, Forecasting, Revenue & Expense Projections, Investments, M&A (Buy-side), Microsoft Outlook, Microsoft Word, Corporate Restructuring, Microsoft Excel, Fairness Opinion Reports, Finance, Valuation, Financial Modeling, Debt Raises, Project Finance, Capital Markets, Fundraising, Mergers & Acquisitions (M&A), Dashboard Design, Business Models

  • Engagement Senior

    2006 - 2009
    Ernst & Young
    • Led multidisciplinary teams within transaction advisory services and, earlier, in assurance. Responsible for managing projects, determining execution strategies, and providing guidance to the teams.
    • Conducted due diligence, valuation, and audits in the financial, utilities, energy, and manufacturing sectors.
    • Undertook a feasibility study for Pakistan Security Printing Corporation to evaluate a CAPEX investment in an additional note printing facility.
    Focus areas: Due Diligence, Due Diligence Consultant, IFRS Financial Reporting, Forecasting, M&A (Buy-side), Microsoft Outlook, Microsoft Word, Microsoft Excel, Valuation, Financial Modeling, Transaction Advisory, Audits, Big 4 Accounting, Key Performance Indicators (KPIs), Dashboard Design, Business Models

Certifications

  • Financial Modeling and Valuation Analyst
    AUGUST 2020 - PRESENT
    Corporate Finance Institute
  • Chartered Financial Analyst (CFA)
    OCTOBER 2015 - PRESENT
    CFA Institute
  • Fellow Chartered Accountant
    SEPTEMBER 2009 - PRESENT
    Institute of Chartered Accountants of Pakistan

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