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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Kenya Pipeline IPO Oversubscribed, Raises Sh106bn - March 2026
The Kenya Pipeline Company (KPC) Initial Public Offer has been oversubscribed, generating Sh106 billion for the State, marking it as one of the largest public share sales in Kenya's history. This represents a significant divestiture for the government, nearly two decades after its last major sale of Safaricom in 2008. Separately, Absa Bank Kenya announced a 17 percent increase in its dividend payout to Sh2.05 per share, following a 10 percent surge in net profit to Sh22.9 billion for the year ending December 31, 2025. The government has also set a Sh100 billion minimum capital requirement for companies bidding to upgrade Jomo Kenyatta International Airport (JKIA).
