NAIROBI Kenya—Jan 20, 2026—The National Treasury on Monday launched the Kenya Pipeline Company (KPC) Initial Public Offering (IPO) at the Nairobi Securities Exchange (NSE), marking the largest IPO and the first fully electronic share offer in the bourse’s history.
Under the offer, the Government will sell 65 per cent of KPC’s issued 11.81 billion ordinary shares at Sh9 per share, opening up ownership of the state-owned energy infrastructure firm to local, regional and international investors.
The offer period opened on January 19 and will close on February 19, with trading of KPC shares expected to begin on March 9, subject to regulatory approvals. The privatisation process is scheduled to conclude by March 31, 2026.
The IPO includes an Employee Share Ownership Plan (ESOP), with five per cent of the offer shares reserved for eligible KPC employees.
Treasury Cabinet Secretary John Mbadi said the transaction is part of the government’s state-owned enterprise reform programme and is aimed at deepening capital markets while supporting fiscal sustainability.
The offer has received approval from the Capital Markets Authority and the NSE and is open to Kenyan retail and institutional investors, East African Community investors, oil marketing companies, KPC employees and international investors.
Proceeds from the sale will accrue to the Government and will be applied in line with the 2025/26 national budget, including funding for priority infrastructure projects in energy, roads, water and irrigation, and airports.
KPC reported revenues of Sh38.6 billion and a net profit of Sh10.37 billion for the financial year ended June 30, 2025. The company operates more than 1,300 kilometres of petroleum pipeline infrastructure and plays a key role in Kenya’s fuel supply and regional energy trade.
