NAIROBI, Kenya- The highly anticipated Initial Public Offering (IPO) of the Kenya Pipeline Company (KPC) has been oversubscribed, with the offer achieving the government’s target of Sh106.3 billion (approximately USD 824.1 million), according to the transaction’s lead adviser.
Belgrad Kenne, the lead transaction advisor on the IPO, confirmed that investor demand outstripped the shares on offer, marking a significant milestone for what is set to be one of Kenya’s largest public listings in recent history.
The IPO – which saw 11.81 billion ordinary shares floated at Sh9 per share, representing a 65 percent stake in the strategic parastatal – closed after an extension to the offer period to allow broader participation from both retail and institutional investors.
Government authorities extended the offer deadline by three working days in a bid to give prospective investors additional time to participate, a move overseen by the Capital Markets Authority and the Privatisation Authority.
The IPO, poised to deepen local capital markets and democratise ownership of a key national asset, will see KPC shares listed on the Nairobi Securities Exchange with trading scheduled to commence on March 9, 2026.
Allocation results are expected to be announced on March 4, after which successful applicants will be credited with shares and refunds processed for any unsubscribed portions.
The strong subscription indicates robust investor interest in KPC’s strategic infrastructure assets, which form a backbone of East Africa’s petroleum supply chain.