NAIROBI, Kenya, Mar 10 — Shares of Kenya Pipeline Company (KPC) began trading Tuesday at the Nairobi Securities Exchange following a bell-ringing ceremony presided over by President William Ruto.
The debut saw KPC shares open at Sh9.3, slightly above the Sh9 price set during the Initial Public Offering (IPO).
The listing follows a successful IPO that raised Sh112.4 billion, making it one of the largest public share sales in Kenya’s history.
The offer comprised 11.81 billion shares priced at Sh9 each, but strong investor demand pushed total applications to 12.49 billion shares, resulting in an oversubscription rate of 105.7 percent.
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