There are many ways to make money from an initial public offering (IPO). Buying the shares is only one of them.

Quickmart’s owners will spend about KES 575.6 million ($4.5 million) to list the supermarket chain on the Nairobi Securities Exchange (NSE), according to local publication Business Daily. The money will go to investment banks, lawyers, accountants, regulators, marketers and the other firms required to take a private company public.

What happened? Professional advisers, including SBG Securities, Stanbic Bank and Dyer & Blair, will share about KES 476.2 million ($3.7 million). Another KES 70 million ($542,000) goes to marketing, while the Capital Markets Authority and NSE will collect about KES 24 million ($186,000).

Explain like I’m new here: Quickmart, the Kenyan retailer, has filed to go public. Its sole shareholder, Sokoni Retail Kenya, is selling two billion existing shares, 50% of the company, at KES 7.50 ($0.058) each. So the KES 15 billion ($116 million) raised goes to Sokoni, which also pays the IPO bill. After fees, it should leave with roughly KES 14.4 billion ($111 million).

Between the lines: The fees work out to about 3.8% of the offer, or KES 0.29 ($0.002) for every share sold. That is the price of creating liquidity for Quickmart’s existing owners and turning their private stake into something thousands of investors can buy and trade.

A broader business is also forming around Kenya’s return to listings. Advisers and regulators earned KES 2.99 billion ($23.1 million) from the Kenya Pipeline IPO, while Family Bank paid KES 77.2 million ($598,000) simply to list by introduction.

Zoom out: Quickmart’s offer closes on October 30, with trading expected to begin on November 12. If Kenya keeps producing IPOs, the winners will not only be companies and investors. The firms paid to get those deals over the line are building a nice business too.