Kenya launched the Kenya Pipeline Company (KPC) IPO on Monday, January 19, 2026, marking the country’s first major Electronic IPO (E-IPO).
Kenya Pipeline is scheduled to be officially listed on the Nairobi Securities Exchange (NSE) on March 9, 2026.
Under the final offer structure, KPC will list at an implied valuation of Ksh 163.6 billion, following the sale of 11.81 billion shares at Ksh 9 per share.
How Much Stock Brokers and Advisors Will Pocket
Stockbrokers and transaction advisors are set to earn up to 1 billion shillings from the initial public offering of the Kenya Pipeline Company (KPC).
The total expenses for listing the company on the NSE are estimated at 3 billion shillings.
These costs cover financial and transaction advisory services, broker fees, legal advisory, communications, PR, and marketing.
Transaction advisory services will cost KPC over Ksh98 million, while legal fees will amount to Ksh31.9 million.
PricewaterhouseCoopers (PwC) is the lead accounting firm and will charge Ksh13.449 million.
Broker fees for Diane Blair Investment Bank and Francis Drummond will be Ksh2.749 million, and registration and data processing will cost Ksh70.345 million.
Communication and marketing expenses include Ksh42.126 million to Apex Communications Ltd for PR and Ksh12.258 million to Belva Digital Ltd for advertising.
Other costs include CMA approval fees of Ksh30 million, NSE listing fees of Ksh1.5 million, placement fees of Ksh1.59 billion, and third-party advertising costs of Ksh40 million.
Also Read: How to Buy Kenya Pipeline Shares Through M-PESA
Kenya Pipeline List of Advisors and Brokers
The lead transaction advisor for the Kenya Pipeline Company IPO is Faida Investment Bank.
The lead sponsoring broker is Dyer & Blair Investment Bank, while the co-sponsoring broker is Francis Drummond & Co. Ltd.
The joint legal advisors are TripleOKLaw Advocates and G&A Advocates LLP. PwC will serve as the reporting accountant, and Image Registrars as the registrar for the IPO.
For communications, Belva Digital will handle advertising, while Apex Porter Novelli will be responsible for public relations.
Stanbic Bank, KCB, and Co-operative Bank are the official receiving banks.
Also Read: Ruto’s Government Starts Selling Kenya Pipeline at Ksh106 Billion Valuation
Owners of Each broker and Advisors
The following are owners of the institutions that shall serve as brokers and advisors:
Faida Investment Bank
Faida Investment Bank is a leading full-service Kenyan investment bank licensed by the CMA, offering services such as stocks and bonds trading, investment advisory, corporate finance, research, and portfolio management.
The bank aims to connect investors with wealth-building opportunities in East African markets and has an associate in Rwanda.
Faida Investment Bank (FIB) is a 100% Kenyan-owned firm, founded by Bob Karina who also serves as its Chairman.
Lucas Otieno serves as Managing Director, focusing on capital raising and wealth management, and holds licenses from Kenya’s CMA and is a member of the Nairobi Securities Exchange (NSE).
Dyer & Blair Investment Bank
Dyer & Blair Investment Bank is a Kenyan firm with a legacy of local ownership, led by Chairman and CEO Jimnah Mbaru.
It is a key player in East African finance, structured around private investors, and offers a range of services, including brokerage and corporate finance, catering to both local and international markets.
TripleOKLaw LLP and G&A Advocates LLP
TripleOKLaw LLP was founded in 2002 by four partners: James Ochieng Oduol, Tom Onyango MBS, Jinaro Kibet SC, and John Ohaga SC.
G&A Advocates LLP is a Kenyan full-service law firm established in 2006 as Gumbo & Associates and later reorganized into its current LLP structure, serving private-sector clients and financial institutions.
The owner is Eric Gumbo, an Advocate of the High Court of Kenya.
Francis Drummond
Francis Drummond and Company Limited (FD) is a specialized stock brokerage firm in Kenya.
Incorporated as a private limited liability company under the Companies Act, it has been a member of the Nairobi Securities Exchange since 1949, earning the nickname “Broker No. 1”.
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