Africa-Press – Kenya. The deadline for the Kenya Pipeline Corporation Initial Public Offer (IPO) has officially lapsed, closing the window for investors to submit applications for one of the country’s most anticipated public offerings in recent years.
The Privatisation Authority had earlier issued a final reminder to investors as the 5pm cut-off approached, urging interested applicants to complete their submissions before the official closing time.
Authorities maintained that no further extensions would be granted beyond the stipulated deadline.
The KPC IPO attracted significant public interest from both individual and institutional investors seeking to acquire a stake in the key state-owned enterprise.
At offer, the government placed 11.81 billion ordinary shares on sale at Sh9 per share, representing 65 per cent of the company’s equity.
Applications were submitted through multiple channels designed to enhance accessibility and nationwide participation.
Investors were able to apply online via the dedicated e-offer platform, through USSD mobile services, and via the Ziidi Trader feature on the M-PESA app.
The integration of digital platforms was aimed at minimising paperwork, reducing queues and enabling Kenyans across the country to participate conveniently.
The offer period had previously been extended by three days following approval by the Capital Markets Authority.
The IPO was initially scheduled to close on February 19, but the extension was granted after public participation and stakeholder engagement forums conducted under the government’s privatisation programme.
During those engagements, several retail investors requested additional time to finalise their investment decisions.
The regulator said the move was consistent with the government’s objective of broadening domestic share ownership and encouraging wider participation in Kenya’s capital markets.
Announcing the extension last week, Privatisation Authority Acting Managing Director Janerose Omondi, said the additional days were intended to enhance inclusivity and transparency in the privatisation process.
“The extension is aimed at ensuring broader participation and will provide investors adequate time to finalise their investment decisions in line with our commitment to inclusivity and transparency,” she said at the time.
The extension also followed the CMA’s approval of the integration of electronic Central Depository System (CDS) account opening into the KPC IPO platform.
The enhancement enabled prospective investors to open CDS accounts seamlessly while applying for shares, further lowering entry barriers for first-time participants in the capital markets.
With the offer now closed, attention shifts to the next phase of the transaction. Allocation results are expected to be announced on March 4, after which successful applicants will have their shares electronically credited to their CDS accounts.
Refunds for unsuccessful or partially successful applications are scheduled to be processed by March 6.
Listing and trading of KPC shares on the Nairobi Securities Exchange is slated to commence on March 9, marking a significant milestone in the government’s privatisation agenda.
The IPO forms part of a broader initiative aimed at deepening the capital markets, enhancing transparency in public enterprises, and giving citizens a direct opportunity to invest in national assets.
Market analysts say the level of participation witnessed during the offer period signals growing retail investor appetite for government-backed listings.
