The float on the Nairobi Stock Exchange is the largest initial public offering in East Africa to date and Safaricom is a new client for the top 40
Stephenson Harwood won the instruction a month ago, after bidding as part of a consortium of Kenyan legal firms. Other firms that tendered are understood to include Clifford Chance, Denton Wilde Sapte and Lovells.
The consortium — which included Kenyan firms Muriu Mungai & Co, Kipkorir Titoo & Kiara, and Muthaura Mugambi Ayugi & Njonjo — approached the
Stephenson Harwood’s litigation team has been active in the region, including involvement in a number of arbitrations. It is understood that Safaricom may also be floated on a second, international exchange.
The deal is being led for Stephenson Harwood by corporate partner Pawan Sharma, who joined the firm in April this year from boutique Grundberg Mocatta Rakison.