The initial public offering of Kenya Pipeline Company was oversubscribed by 105.7 percent, reflecting strong investor demand for the state-owned energy infrastructure firm, Kenya’s Finance Minister John Mbadi said, as reported by Reuters.
According to figures released by the National Treasury of Kenya, investors applied for about 12.49 billion shares, exceeding the 11.81 billion shares offered by the government at a price of 9 Kenyan shillings per share. The offering is expected to raise approximately 106 billion Kenyan shillings, making it one of the largest capital market transactions in Kenya in recent years.
Mbadi said individual and institutional investors in Kenya will receive roughly 67.32 percent of the shares, highlighting strong domestic participation in the sale. The transaction forms part of the government’s broader effort to expand public ownership of key state assets while strengthening the country’s capital markets, as cited by ChannelAfrica.
Shares of Kenya Pipeline Company are scheduled to begin trading on the Nairobi Securities Exchange, marking a significant milestone in Kenya’s ongoing privatization programme aimed at deepening investment opportunities in the region’s largest economy.
Image Credit: www.kenyans.co.ke
