Kenya Pipeline Taps NSE In Biggest State IPO Since Safaricom

The government has approved the privatisation of Kenya Pipeline Company through an initial public offering on the Nairobi Securities Exchange PLC , targeting completion by March 31, 2026. The transaction is expected to involve the sale of about 65 percent of the company, in what analysts describe as the biggest IPO since Safaricom PLC listed in 2008 and a flagship of the new privatisation programme. 

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Research notes indicate that the KPC listing could deepen the bourse’s energy and infrastructure exposure, catalyse local and foreign institutional interest, and set a template for additional state-owned enterprises to list or partially divest. The success or failure of this deal will heavily influence the trajectory of Kenya’s broader privatisation and capital-markets revival agenda in the coming year.