Safaricom Initial Public Offer (IPO)

The project was an Initial Public Offering where Government of Kenya was offering 25% of the Company’s shares for sale to the public and subsequently listing these shares at the NSE. The project involved design of application forms, formulation of allotment formula and working with the PC and Transaction Advisor to ensure the allotment and refunds of payments are done as per CMA rules.

Image Registrars was contracted as the registrar for the IPO and subsequently the continuing shares registrars. Our IPO role was to create a database of all applications, receive and safely keep the application documents, give periodical reports on the progress of the IPO and finally to perform an allotment of shares as specified in the prospectus, preparation of allotment schedules, printing of share certificates as well as generation of data in the agreed formats for posting of shares in the applicants’ CDS accounts. 

Continuing Shares register maintenance from June 2008 to date and involvement in filing of annual returns, statutory returns and share certificate immobilization. We were also involved in planning and execution of the Annual General Meeting of the Company after the IPO where the infrastructure set up is to handle at least 5% of the shareholders (42,000)  if they were all to turn up.

Safaricom Initial Public Offer (IPO)


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