The government is kicking off a massive state sell-off with a landmark pipeline company listing. Kenya Pipeline Company's initial public offering represents one of the biggest listings ever on the local exchange. The state is selling over eleven billion shares, a sixty-five percent stake in the strategic fuel firm, at a set price per share.
This values the entire company at a huge sum, aiming to raise an enormous amount of capital. The offer gives investors a one-month window to submit their applications for the shares. Allocation splits the shares between retail investors, institutions, regional partners, and oil marketing companies.
After the offer closes, allocation results will be announced later. Successful applicants must then...