Primary Markets
Part of the capital market where securities are created and where new stocks and bonds are sold to the public for the first time.
OVERVIEW
Primary markets are facilitated by underwriters who mainly consist of investment banks.
Institutions such as corporations and governments engage in the primary market to obtain capital inorder to fund operations or expand business.
KENYAN PRIMARY MARKETS
The Capital Markets Authority regulates the NSE, fund managers, Central Depository Systems, custodians, investment banks, collective investment schemes, investment advisers, stock brokers, securities dealers, listed companies, credit rating agencies and venture capital Firms.
Although the NSE is a self regulating organization with regards to market listings, its operations are governed by the CMA Act.
There are two depository institutions in the Kenyan Capital Market:
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