Capital Markets

Kaplan & Stratton has vast experience in the capital markets sector having acted on a wide variety of matters and drafted some of the legislation and regulations for the sector.  The firm has handled a number of local and international bank syndications and has been involved in the development of the listed bond market in Kenya, commercial paper programmes and other medium term note issues.  We have acted on listings, capital raisings, take-overs and mergers of companies and institutions listed on the Nairobi Stock Exchange, many of which have involved international shareholders, lenders, institutions and Governments.

Kaplan & Stratton is considered the leading firm for capital markets, stock exchange listings, privatisation, project finance and large transaction due diligence undertakings in Kenya. The firm represents many of the companies listed on the Nairobi Stock Exchange.

We have advised clients on a range of transactions for private companies and public listed companies covering: initial public offerings, secondary issues – rights and scrip issues, de-listings, introductions, cross-border listings, take-overs, private placements and re-structurings.


RECENT TRANSACTIONS

  • Acted on the acquisition of I&M Bank Limited by City Trust Limited, a company listed on the Nairobi Securities Exchange; regulatory and transactional advice; offer and other take-over documentation.
  • Acted as legal adviser to TransCentury (the acquirer) in a proposed acquisition of minority shareholding in East African Cables, by way of a share swap. This entailed full regulatory compliance and transactional advisory.
  • Acted for arranger Stanbic Bank and issuer Shelter Afrique on financing for Shelter Afrique’s The Company for Habitat and Housing in Africa, by way of a medium term note offering on the Nairobi Stock Exchange. The transaction involved drafting documentation for paperless Note Certificates, listing and other requirements of capital markets in Kenya.
  • Represented Kenyan listed TPS EA in connection with the acquisition of the Serena Kampala Hotel by way of a share exchange.
  • We acted for Trans-Century Limited (Pan-African investment company), in its corporate re-structuring and subsequent listing by Introduction on the Nairobi Stock Exchange. We further provided counsel with regard to the issue on convertible Eorobond which was a market precedent.
  • We advised Standard Bank (London) as arranger for the stock exchange listed, credit enhanced, KES 4.5 billion bond offering by mobile phone operator Celtel Kenya Limited.
  • We were lead legal advisers on the cross-listing/introduction of East African Breweries Limited on the Dar-es-Salaam Stock Exchange, Tanzania.
  • We advised on the Kenya Oil Company Limited (Kenol) – Kobil merger. Acquisition by Kenya Oil Company Limited (listed on Nairobi Stock Exchange) of its sister company Kobil Petroleum.  Kenol is Kenya’s largest indigenous petroleum marketing/selling business. Deal value USD 75 million.
  • Acted as Kenyan Counsel to Puma Energy LLC in the proposed acquisition of KenolKobil Limited (regional oil marketer listed on the Nairobi Securities Exchange).
  • We advised TPS Eastern Africa Limited (Serena Hotels and Lodges) on its take-over scheme for Tourism Promotion Services Limited including a listing on the Nairobi Stock Exchange by way of introduction for the new holding company.
  • Advised Kenya Airways Limited on its cross-listing/introduction on the Dar-es-Salaam Stock Exchange, Tanzania
  • Acted for Safaricom Limited, Kenya’s largest mobile telephone operator in its issuance of medium term notes and listing on the Nairobi Stock Exchange.
  • We advised on the Bidco Tanzania Bond Issue on the Dar-es-Salaam Stock Exchange – Acting for the arranger – assistance with transaction documentation, security documentation and regulatory compliance
  • Take-over and Delisting of East African Packaging Industries – Acting for the acquirer on take-over and subsequent de-listing from the Nairobi Stock Exchange.
  • Acted for Unga Group on its reorganisation; amalgamation with Kenya National Mills and subsequent de-listing of Kenya National Mills
  • Acted for TransUnion (Netherlands) on the acquisition of the Credit Reference Bureau (CRB), the only Credit Reference Bureau company registered in Kenya.

EXPERTS/LAWYERS


RANKINGS AND ACCOLADES

  • Top Tier Firm 2018
  • IP Stars Tier 1 17 logo 2
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  • Chambers-KS
  • Top-Tier-Firm-2017-Rosette-Web
  • IFLR1000-Top-Tier-Firm-2016
  • IFLR-Energy-Infrastructure-2015-Top-Tier-Firm-Rosette
  • Expert-Guides
  • CorpIntl-Legal-Awards
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  • WTR-2014