, NAIROBI, Kenya, Feb 21 – The Capital Markets Authority (CMA) has granted a license to Kenya Commercial Bank (KCB) Capital Limited, a wholly owned subsidiary of Kenya Commercial Bank Limited, to operate as an investment bank under the Capital Markets Act and Regulations.
KCB Capital Limited will offer advisory services on public offering of securities, corporate financial restructuring, takeovers, mergers, acquisitions and privatisation.
They will also offer corporate financing options including issuance of equity or debt securities or loan syndication, engaging in business of stockbroker and dealer, promoting or arranging or issuance of securities and providing investment advisory services.
The approval brings the number of investment advisors authorised by the Capital Markets Authority to 11.
According to CMA, an investment bank is a non-deposit taking institution licensed by the Authority to advise on offers of securities to the public or a section of the public, take-overs, mergers, acquisitions, corporate restructuring involving companies listed or quoted on a securities exchange.
An investment banks is also licensed to privatise companies through a securities exchange or underwriting of securities issued or to be issued to the public, and to engage in the business of a stockbroker or dealer.