How to Buy Kenya Pipeline (KPC) IPO Shares (Step by Step Guide)

The government officially listed the Kenya Pipeline Company (KPC) on the Nairobi Securities Exchange (NSE), with each share being priced at Ksh9.  This is the largest listing on the Nairobi Securities Exchange (NSE) since Safaricom in 2008. The state is offering 11.8 billion shares (a 65% stake) to raise Ksh106.3 billion through the sale of 11 billion shares.

Kenyans who are willing to participate in the Initial Public Offering (IPO) have been advised to do so by Thursday, February 19, 2026.

The purchase of shares is done online through USSD or via an online platform. Any investor must have an account with the Central Depository and Settlement Corporation (CDSC).

The minimum number of shares an individual can buy is 100.

Also Read: Can You Make Money Investing in The NSE?

Requirements for Buying KPC IPO Shares

To participate in this fully electronic IPO (E-IPO), investors must meet the following criteria:

1. Valid CDSC Account: You must have a Central Depository and Settlement Corporation (CDSC) account.
2. Mobile Money Balance: Ensure your M-Pesa or Airtel Money has enough funds for the shares plus any transaction fees.
3. Identification: A valid Kenyan ID or Passport is required for the digital verification process.

How to Buy KPC Shares by USSD Code *483*816# (Step by Step)

1. Dial *483*816# and choose to read the terms and conditions of the offer.
2. Agree to the terms, then choose the “New Application” option and follow the prompts to complete the process. ( An applicant who is an employee of KPC will be required to disclose the same via a prompt.)
3. The applicant will receive a prompt to pay and later an email or an SMS confirming the status of the application. In case an applicant is unable to pay immediately, they will receive an email or an SMS with instructions on how to pay for the offer shares that have been applied for. 

During the Offer Period, applicants can increase the number of shares they have already applied for by dialling the designated code and selecting the “Add Shares” option.

They will then be prompted to pay for the additional shares. Applicants may also make partial payments for their applied shares, as long as the full amount is paid by the offer closing date. To make a partial payment, the applicant should dial the USSD code, choose the “Add Payment” option, and follow the on-screen prompts.

Also read: What to Look Out for When Buying Shares at The NSE‍

How to Buy KPC IPO Shares Online 

Online purchase of the shares is done through an application portal - https://kpcipo.e-offer.app. Similar to the USSD process, an investor should have a valid CDS account before undertaking the process.

1. Read and accept the terms of the offer.
2. Click on New Application and provide their details as prompted, which will be verified against their information in their CDS account. 
3. Fill out the electronic application form, providing the mandatory information before proceeding through the various steps. Applicants will choose their appropriate applicant type on the dropdown menu, that is, Institutional; Selling Agent (on behalf of institution); Individual; Selling Agent (on behalf of Individual); KPC Employee; or Oil Marketing Company. 
4. Once you have duly completed and submitted the application form, you will be required to make a payment and upload proof of payment documents (EFT or Bank Transfers). This will be verified by the Data Processing Agent. For applicants wishing to pay via Mobile Money, you may also choose to be prompted to pay by providing your M-Pesa registered mobile number.

“Look out for updates on the status of your application, which will be sent to your registered email address or through text message to the mobile number you indicated in the electronic application,” read the offer document in part.

How to Make Mobile Money Payments for KPC IPO Shares Via Banks 

Cooperative Bank of Kenya Limited 

Pay Bill Number: 4999915 

Account Number: 59867XXXXXXX (XXXXXXX - being the 7-digit number on the Application Form) 

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Kenya Commercial Bank Limited

Pay Bill Number: 522533 

Account Number: 40384XXXXXXX (XXXXXXX - being the 7-digit number on the Application Form) 

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Stanbic Bank Kenya Limited 

Pay Bill Number: 8250250 

Account Number: 11140XXXXXXX (XXXXXXX - being the 7-digit number on the Application Form)

Also Read: How to Start Investing in the Kenyan Stock Market: A Beginner's Guide

Important Dates in Buying KPC Shares

January 19, 2026: Offer Opens 

February 19, 2026: Offer closes.

March 4, 2026: Announcement of allocation results.

March 5, 2026: Final day for making any payments.

March 9: Shares start trading in the NSE

Mistakes to Avoid When Buying KPC Shares

An application may be rejected if it is incomplete, has missing details such as bank details and the name of the applicant, a missing certified copy of an ID card/ passport, a missing proof of payments, or less payment for the shares, among others.

“All rejected applications shall be refunded strictly in accordance with the approved Refund Policy and the Information Memorandum,” read the document in part.

“Complaints arising from rejected applications shall be handled through the dispute resolution mechanisms disclosed in the Information Memorandum and in compliance with regulatory requirements.”