You Can Now Buy Kenya Pipeline Shares With Ksh9,000 & Above

The government officially listed the Kenya Pipeline Company on the Nairobi Securities Exchange (NSE) on Monday, January 19, with the asking price of a share set at Ksh9.

Through the IPO, the government intends to sell 11 billion shares to potential investors in Kenya, the East African Community, and the rest of the world.

According to the offer document, the minimum number of shares an investor can buy is 1000, meaning that anyone with Ksh9,000 and above will be able to invest in the company.

The government is seeking to raise Ksh106 billion through the sale of the 65% stake.

"Gross proceeds of approximately Ksh106,313,799,150 (assuming full subscription) will form part of the government’s approved financing plan for the 2025/26 financial year and will be applied in accordance with the national budget framework and the fiscal policy direction.

"The resources shall be allocated to critical commercially viable infrastructure investment priorities, specifically energy, roads, water and irrigation, airports," read the offer document in part.

The offer is open to all Kenyan citizens aged above 18, Kenyan-registered companies, SACCOs, pension funds, insurance companies, and qualified institutional investors.

However, to participate, investors are required to have a valid account with the Central Depository and Settlement Corporation (CDSC).

The offer will end on February 19, 2026. The announcement of allocation results has been set for March 4, 2026.

"The minimum application for retail investors is 1,000 shares. Additional applications must be in multiples of 100 shares thereafter. The final Offer Price and minimum lot size will be confirmed in the Information Memorandum and Pricing Supplement once published," read the offer document.

20% of the available shares has been reserved for Kenyans, another 20% has been reserved for Kenyan institutional investors, 20% has also been reserved for foreign investors.

East African Community (EAC) investors will be able to purchase 20% of the available shared as 15% is taken up by Oil Marketing Companies (OMCs).

Treasury CS John Mbadi announced that 5% has been reserved for the employees of the company.

"The IPO is anchored in the Government’s economic agenda to strengthen macro economic stability, reduce pressure on taxpayers, and de-risk public investments through market-based reforms. Proceeds will be applied within the national budget framework as seed capital for priority infrastructure, strategic investments, and fiscal consolidation," the National Treasury stated.

"Supported by KPC’s strong fundamentals, revenues of Ksh38.6 billion and after tax profits of Ksh10.37 billion for the year ended 30 June 2025,and its 1,300-kilometre pipeline network, the offer represents a decisive step in transforming a profitable state enterprise into a people owned company while strengthening long term economic resilience."

If successful, the KPC IPO will be the largest IPO on the NSE since Safaricom’s 2008 listing, where the government raised Ksh51 billion.

Meanwhile, the government is also in the process of selling its 15% stake at Safaricom to Vodacom at Ksh204 billion. The government will also receive Ksh45 billion in advanced payouts for dividends.