Kenya Pipeline IPO closing date extended to next week

The Capital Markets Authority (CMA) has approved a three-working-day extension of the Kenya Pipeline Company Initial Public Offering (IPO).

The regulator, according to a statement sent to newsrooms on Thursday, moved the closing date from February 19 to Tuesday, February 24 at 5pm, while keeping all other terms unchanged.

The decision follows feedback from public participation forums tied to the government’s broader privatisation drive, where retail investors asked for more time to take part.

Government officials said the extension aligns with policy goals to widen domestic share ownership and make the capital markets less of a private club and more of a public square.

Acting Managing Director of the Privatization Authority, Dr. Janerose Omondi, said the move is meant to encourage inclusivity.

“The extension is aimed at ensuring broader participation and will provide investors adequate time to finalize their investment decisions in line with our commitment to inclusivity and transparency,” she said.

Investors who have already submitted valid applications will not need to reapply. New applications can be made through stockbrokers, investment banks, authorised selling agents and the dedicated IPO digital platforms.

Allocation results are scheduled for March 4, followed by electronic crediting of shares to CDS accounts and refunds by March 6. Trading of the shares is expected to begin on March 9 at the Nairobi Securities Exchange (NSE).

The extension comes just days after the regulator approved integration of electronic CDS account opening into the IPO platform, a move designed to simplify onboarding for first-time investors and reduce the usual red tape.

“The KPC IPO is about democratizing ownership of one of Kenya’s strategic national assets. By leveraging digital platforms, we are making participation in capital markets simpler and more equitable.” said Dr. Omondi.

KPC operates 1,342 kilometres of pipeline and storage infrastructure across the region, forming a critical backbone for petroleum transport and energy security.

The company says its strong earnings position it as an attractive, stable play for long-term investors.