Kenya Pipeline Company has detailed how shares in its planned initial public offering will be allocated as the State-owned firm seeks to widen ownership.
According to the allocation plan, individual Kenyans, Kenyan firms, East African Community investors and foreign investors will each receive 20 per cent of the shares on offer. Oil marketers will take 15 per cent, while KPC employees have been allocated five per cent.
The IPO involves 11.8 billion shares priced at Sh9 each, targeting Sh106.3 billion. The offer opened on January 19 with trading expected to begin on the Nairobi bourse on March 19.
