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KCB, SBG bag Sh4bn in Safaricom shares trade
Stockbrokers earn a commission of up to 1.78 percent for transactions below Sh100,000, with large deals such as the Vodacom transaction executed at a discounted rate.
KCB Investment Bank and SBG Securities pocketed an estimated Sh2 billion each for their role in facilitating the Sh204.3 billion government stake sale in Safaricom to Vodacom Group in a lucrative year for stockbrokers.
The transaction was executed on the Nairobi Securities Exchange (NSE) on Tuesday as a block trade of 6.009 billion Safaricom shares for Sh34 each, marking the largest single deal ever conducted on the bourse.
