The Kenya Pipeline Company's initial public offer has received a 105.7 percent oversubscription, offering the state the targetted amount of 106 billion shillings, but according to Treasury CS John Mbadi, the government will only absorb the targetted amount. The CS who spoke when announcing the ipo result further noted that Kenyans, through the government, local institutions, retail investors, and KPC employees, will cumulatively own a controlling stake of 79 percent of the company, dismissing claims that the government is selling key assets to foreigners.
