Nairobi, March 5 -- The Business Daily spoke to Kenne Belgrade, the team leader at Faida Investment Bank-the lead transaction advisor for Kenya Pipeline Company (KPC) initial public offer (IPO) whose results were announced on Thursday.

The conversation touches on the highs from the oversubscription by local institutions and the government of Uganda, to the lows of apathy among foreign, local individual investors and oil marketing firms.

There is a clear bias in participation towards regional and local institutions, what's your reading on this?

We went out looking for, you know, Sh106.3 billion. This issue was oversubscribed by over Sh5 billion. We got an application for almost 12.5 billion shares. When you put it in relative terms, tha...