Regulator extends Kenya Pipeline IPO as firm struggles to hit sale target

Key Takeaways

• Kenya Pipeline Company's (KPC) Sh106.3 billion Initial Public Offering (IPO) has been extended by three days to February 24, 2026, due to struggling sales.
• Only approximately 20% (Sh23 billion) of the offer had been sold by Tuesday, with brokers noting difficulties in securing payments from high-net-worth investors.
• The IPO must raise at least Sh53.1 billion (50% of offer shares) and attract 250 applicants to proceed, amidst investor concerns over KPC's valuation.
• The sale of a 65% stake in KPC is part of the Kenyan government's strategy to divest from state-owned companies and address its substantial national debt.