Kenya Pipeline IPO oversubscribed, raising Sh106bn for State

Key Takeaways

• Kenya Pipeline Company's IPO was oversubscribed by 105.7%, raising Sh106 billion for the state.
• The majority of subscriptions came from local institutional investors and East African Community (EAC) investors.
• The IPO, which offered a 65% stake, was priced at Sh9 per share.
• National Treasury Cabinet Secretary John Mbadi hailed the IPO as a success, reflecting Kenya's mature economy and prudent asset management.