Kenyans Can Now Invest in Kenya Pipeline Company: Here’s How to Take Part in the IPO

Kenyans now have the chance to own a part of Kenya Pipeline Company as the IPO goes live.

Kenya Pipeline Company (KPC) launched its Sh103 billion initial public offering (IPO) on Monday, offering 65 per cent of shares to private investors, while the government retains a non-dilutable 35 per cent stake. The IPO, the largest in recent East African history, aims to broaden shareholding, deepen Kenya’s capital market, and fund the modernization of the country’s pipeline infrastructure.

During a media breakfast in Nairobi on Tuesday, KPC Chief Executive Officer Joe Sang described the listing as a milestone not only for the company but also for the communities it serves.

“It’s not just about the billions, but touching lives and impacting society. Single mothers in Mombasa are now able to feed their families from beekeeping, children who had dropped out of school are back in school, and maternal deaths in Kisumu have dropped from 50 per cent to less than 5 per cent,” Sang said.

The IPO, he said, is expected to unlock the full potential of KPC, enabling the company to access capital markets more frequently for modernization, expansion, and operational efficiency.

Kenne Belgrad, lead transaction advisor at Faida Investment Bank, explained the share allocation, emphasizing inclusivity and fairness across different investor categories.

“The IPO comprises 18.1 billion total shares, of which 11.8 billion are offer shares representing 65 per cent of the company. KPC employees will have a priority pool of 5 per cent to participate in the IPO at the investor level. Oil marketing companies are allocated 15 per cent, while local retail investors, local institutional investors, East African member states excluding Kenya, and foreign investors each have 20 per cent of the offer shares,” Belgrad said.

He clarified that the priority pool for employees is distinct from the Employee Share Ownership Plan (ESOP), which will be implemented post-IPO at up to 1.5 per cent to motivate and retain staff.

“If each category fully subscribes, employees would hold around 3 per cent, OMCs just under 10 per cent, and the remaining investors about 13 per cent each. The priority pool ensures inclusivity but is separate from the ESOP,” he added.

Abdulhaleem Mohammed, CEO of Image Registrars, detailed how investors can participate using a fully electronic process, designed to ensure speed, accuracy, and transparency.

Investors can apply via USSD by dialling 483816# from a registered Kenyan mobile number or through the online portal at kpcipo.e-offer.app. Applicants must have a valid Central Depository System(CDS) account and meet a minimum application of 100 shares.

“Applicants can pay via mobile money or designated receiving banks, increase their applications, or make partial payments during the offer period. All payments must be completed before the offer closes to ensure allocation,” Mohammed said.

The IPO period runs from January 19 to February 19, 2026, with results expected on March 4 and payment settlement on March 5. KPC is targeting inclusion of 2 billion retail investors, a move experts say will deepen Kenya’s capital market and attract wider participation across the East African region.

Sang also emphasized the company’s strong financials, noting that KPC posted revenue of Sh38.5 billion in 2025, with profit before tax of Sh12 billion, and has maintained a debt-free balance sheet with Sh16.2 billion in cash reserves.

“This is a once-in-a-lifetime opportunity for Kenyans to participate in a large-cap company with a strong track record of paying dividends. Investors can already expect dividend yields above the market average of around 3 per cent,” Sang said.

KPC IPO Quick Facts

Total Shares: 18.1 billion
Offer Shares (65%): 11.8 billion

Allocation:

• KPC Employees (priority pool): 5% of offer shares (~3% post-IPO)
• Oil Marketing Companies (OMCs): 15% (~10% post-IPO)
• Local Retail Investors: 20% (~13% post-IPO)
• Local Institutional Investors: 20% (~13% post-IPO)
• East African Community (excl. Kenya): 20% (~13% post-IPO)
• Foreign Investors: 20% (~13% post-IPO)

Minimum Application: 100 shares
How to Apply:

• USSD: 483816# (from registered Kenyan mobile)
• Online Portal: kpcipo.e-offer.app

IPO Period: Jan 19 – Feb 19, 2026
Results Announcement: Mar 4, 2026
Payment Date: Mar 5, 2026