Kenya sells stake in pipeline company
The Kenyan government has begun selling 65% of the shares of the Kenyan Pipeline Company and plans to receive about 106.3 billion Kenyan shillings (about 825 million US dollars) as a result of the transaction.
The company's shares are priced at 9 shillings each. The subscription period will last until February 19, and trading on the Nairobi Securities Exchange will begin on March 9.
15% of the shares will be distributed among oil marketing companies and 5% among employees. The remaining shares are distributed equally among local retail investors, local institutions, East African investors and foreign investors. The government will retain 35% of the shares.
Kenya Pipeline operates fuel pipelines, storage facilities, and distribution infrastructure connecting Mombasa Port with Nairobi and domestic markets, making it a central hub for regional energy supply.
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