Time flies with great content! Renew in to keep enjoying all our premium content.
Prime
Kenya Pipeline IPO, Mansa X earn dealmakers and brokers Sh9.8bn
From left: Faida Investment Bank Chairman Bob Karina, Dyer and Blair Chairman Jimnah Mbaru and Standard Investment Bank Founder and Managing Director James Wangunyu.
Stockbrokers and investment banks nearly tripled their revenue in the first half of this year, lifted by Faida Investment Bank’s transaction fees from the Kenya Pipeline Company’s initial public offering (IPO) and Standard Investment Bank’s Mansa X Fund fees.
A Business Daily analysis of the industry financials shows that the market intermediaries collectively booked income of Sh9.88 billion in the six months to June, up from Sh3.7 billion they booked in the same period a year earlier.
