The Kenya pipeline company initial public offer has received a 105.7 percent over subscripition, offering the state the targeted amount of 106 billion shillings according to treasury CS John Mbadi. The government will only absorb the targeted amount. But despite the seemingly positive outcome, retail investors exercised caution in the divestiture, acquiring only 2.56 percent of the shares out of an allocation 0f 20 percent of the total shares on the market. Institutional investors had to come to the rescue of the share sale sweeping nearly double of their allocated shares.
