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The Kenya Pipeline Company (KPC) PLC today marked its official listing on the Nairobi Securities Exchange (NSE), entering the market as one of the exchange’s top ten largest companies by market capitalisation, marking a historic milestone in Kenya’s capital markets and privatization journey.
The listing, which is the first privatisation listing since 2008, was commemorated through a ceremonial bell ringing officiated by His Excellency Hon. Dr. William Samoei Ruto at the NSE Trading Floor in Nairobi.
The ceremony followed the successful completion of the Kenya Pipeline Company Initial Public Offering (IPO) that recorded a 105.7 percent oversubscription to raise KSh 112.374 billion, underscoring strong investor confidence in the company and Kenya’s economic prospects.
Speaking during the ceremony, President Ruto said the listing of Kenya Pipeline Company is a powerful signal of strength, confidence, and maturity of our economy and represents a major step in broadening citizen participation, democratizing the ownership of strategic national assets and strengthening Kenya’s capital markets.
The milestone listing Kenya’s first privatisation IPO since 2008 marked by a ceremonial bell ringing led Dr. Ruto, who highlighted the fully digital offer that attracted over 70,000 local investors, broadened citizen ownership of strategic national assets, drew participation from the governments of Uganda and Rwanda, and created new opportunities to mobilise long-term financing for Kenya’s infrastructure development.