Kenya raises over Sh106.7 billion in oversubscribed pipeline offer

Key Takeaways

• Kenya's pipeline offer, valued at over Sh106.7 billion, was oversubscribed by 105.7%, indicating strong investor confidence.
• Kenyan investors, both institutional and retail, purchased the majority of shares, demonstrating significant local support for the state energy infrastructure firm.
• Neighboring East African Community (EAC) countries, including Uganda and Rwanda, collectively invested approximately 3.8 billion shares, securing a 21.22% stake.
• Following the offer, local institutional investors will hold the largest share of the company at 41%, with the Kenyan government retaining a 35% controlling stake.