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Originally published by Nation Businessbusiness
March 4, 2026
5h ago
Kenya Pipeline IPO oversubscribed, raises Sh106bn
Strong demand pushes Kenya’s first IPO in 11 years above target...
✨ Key Highlights
The Kenya Pipeline Company (KPC) initial public offer (IPO) has been oversubscribed, generating Sh106 billion for the State. This marks a significant divestiture for the government, nearly two decades after its last major sale of Safaricom in 2008.
- The IPO achieved a 105.7 percent subscription rate, with investors applying for 12.4 billion shares.
- The successful sale was announced by National Treasury Cabinet Secretary John Mbadi, who highlighted it as a demonstration of Kenya's mature economy.
- Local institutional investors, including the National Social Security Fund (NSSF), will now be the largest shareholders with a 41 percent stake, followed by the government with 35 percent. EAC investors hold 21.2 percent.
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