The Government of Kenya has today launched the Kenya Pipeline Company Limited (KPC) Initial Public Offering (IPO) at the Nairobi Securities Exchange, marking Kenya’s largest IPO and the country’s first fully electronic public offer.

The transaction offers 65 per cent of KPC’s issued ordinary shares to the public at KSh 9.00 per share, opening ownership of one of Kenya’s most strategic energy infrastructure assets to local, regional, and international investors. It is also the Government’s first state led market listing in 17 years, following the Safaricom IPO of 2008.

Speaking during the Launch of the IPO, Kenya’s Cabinet Secretary Treasury and Economic Planning FCPA John Mbadi said 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. Supported by KPC’s strong fundamentals, revenues of KSh 38.6 billion and after tax profits of KSh 10.37 billion for the year ended 30 June 2025,and its 1,300-kilometre pipeline network” Said CS Mbadi. Adding that “the offer represents a decisive step in transforming a profitable state enterprise into a people owned company while strengthening long-term economic resilience”.

The IPO has been framed as asset optimization rather than asset disposal, converting part of a concentrated public equity holding into diversified national capital to support growth across multiple sectors. The transaction also aligns with public calls during the 2025/2026 Finance Bill consultations for development financing approaches that reduce reliance on excessive borrowing. Proceeds will provide seed capital for the National Infrastructure Fund, supporting investments in energy, roads, water, airports, and other strategic sectors.