Kenya’s First IPO in 11 Years Scrapes Through With Uganda’s Help

The initial public offering of Kenya’s state-run pipeline company, the first such sale for the East African nation in more than a decade, exceeded its target by 5.7%

Investors submitted applications for 12.5 billion Kenya Pipeline Co. shares, compared with the offer of 11.8 billion shares, National Treasury Secretary John Mbadi said Wednesday during a briefing in the Kenyan capital, Nairobi.