Nairobi, Aug. 25 -- The National Social Security Fund (NSSF) pumped Sh36.3 billion into the initial public offering (IPO) of Kenya Pipeline Company (KPC), unmasking the identity of the top shareholder who earlier opted to remain secret.

The State-backed pension scheme got a 22.2 percent stake in the freshly listed firm, making it the second-largest shareholder behind the government, regulatory documents seen by the Business Daily show.

About 90 percent of the top owners of KPC Plc bought their shares through proxies during the firm's IPO, keeping the identity of the investors anonymous.

Regulatory filings show that 18 of the top 20 shareholders of KPC are under nominee accounts after demand from Kenyan institutional investors and the U...