Nairobi, Jan. 19 -- Kenyan investors have been allocated up to 60 percent of the 11.81 billion Kenya Pipeline Company (KPC) shares the government is offloading in an initial public offering (IPO), which opened on Monday.

The IPO, whose sale period runs until February 19, 2026, has been priced at Sh9 per share. It is expected to yield gross proceeds of Sh106.3 billion, if fully subscribed.

The Treasury is selling a 65 percent stake in the pipeline company, and will retain a holding of 6.36 billion shares that are equivalent to 35 percent of its 18.17 billion issued shares.

The offer thus values KPC at Sh163.56 billion, which at Monday's prices at the NairobiSecurities Exchange (NSE) would make it the fifth largest listed firm behind Saf...