Capital Markets

Equity offerings, bond issuances, REITs, asset-backed securities and structured products on the Nairobi Securities Exchange (NSE) and cross-border markets. Capital Markets Authority (CMA) regulatory filings, prospectus and information-memorandum drafting, continuing obligations advisory for listed issuers, and takeover and substantial-acquisition compliance under the CMA (Takeovers and Mergers) Regulations.

What we advise on. We advise on initial public offerings and secondary listings on the Nairobi Securities Exchange (NSE), rights issues, corporate and green bonds, commercial paper, asset-backed securities, real estate investment trusts (REITs) and other structured products. We draft prospectuses and information memoranda, manage Capital Markets Authority approvals, and advise listed issuers on their continuing-obligations and disclosure regime.

Governing law and regulators. Our work is governed by the Capital Markets Act, the CMA regulations and guidelines, the NSE Listing Rules and the CMA (Takeovers and Mergers) Regulations. We engage directly with the Capital Markets Authority (CMA) and the NSE on approvals, waivers and continuing-obligations matters.

Who we act for. We act for issuers, sponsoring brokers and transaction advisers, arrangers and trustees, and investors. We support first-time issuers through the listing process and advise established public companies on capital raising, governance and market-disclosure compliance.

Why OLM for capital markets. Capital markets work demands precision under regulatory scrutiny and a tight timetable. We produce offering documents that withstand CMA review and we keep issuers on the right side of their continuing obligations long after the deal closes.

Frequently Asked Questions

What is required to list on the Nairobi Securities Exchange? Listing requirements depend on the market segment (Main Investment Market, Growth Enterprise Market or Fixed Income) and cover minimum share capital, track record, free float and corporate governance standards. We advise on the right segment and guide issuers through the approval process.

What is a REIT and how is it regulated in Kenya? A Real Estate Investment Trust (REIT) is a collective investment vehicle that pools capital to invest in income-generating real estate. Kenyan REITs are regulated by the CMA under the REITs Regulations 2013, and we advise on structuring, licensing and ongoing compliance.

What are a listed company’s continuing obligations in Kenya? Listed companies must make timely disclosure of price-sensitive information, publish periodic financial reports, obtain shareholder approval for certain transactions, and comply with corporate-governance requirements. We advise boards and company secretaries on staying compliant.