Uganda investors anchor KPC IPO as Kenya raises $820m

Kenya Pipeline Company CEO Joe Sang during the IPO launch.

Photo credit: Pool

Kenya has raised Ksh106.3 billion ($820 million) from the initial public offer (IPO) of the Kenya Pipeline Company (KPC), after the sale drew a 105.7 percent subscription led by regional and local institutional investors.

The offer – Kenya’s largest privatisation in nearly two decades – attracted strong participation from East African Community (EAC) investors, particularly Uganda, alongside domestic pension funds and other institutional buyers.