The event marked a major milestone in Kenya’s efforts to strengthen its capital markets and allow more people to own a part of national assets.
The KPC IPO is seen as one of the biggest steps yet in expanding public participation in the economy.
By offering shares to ordinary Kenyans, the government aims to give citizens a chance to directly invest in a key national company that plays a vital role in transporting fuel across the country.
Speaking during the official launch, CS Mbadi said the move will help deepen the country’s capital markets by increasing the number of investors and encouraging more trading on the stock exchange.
He said it also supports the government’s goal of broadening ownership of state-owned enterprises, making them more accountable and efficient.
“The opening of the KPC IPO is a major milestone in strengthening Kenya’s capital markets,” Mbadi said. “It is also an important step in expanding public participation in national assets.”
Mbadi noted that the IPO will help mobilize savings from the public and channel them into productive investments.
He said this can help grow the economy by creating more jobs and boosting business activities in related sectors.
The Treasury CS also emphasized that KPC is a strategic company for Kenya, and its listing on the NSE will bring more transparency and better governance.
Public ownership, he added, will ensure that the company is run in the best interest of Kenyans.
The IPO is expected to attract a wide range of investors, including individuals, pension funds, and institutional investors.
The government has been encouraging Kenyans to take part in the offer, saying it is an opportunity to build wealth and support national development.
The Nairobi Securities Exchange, where the IPO was launched, plays a central role in Kenya’s financial system.
By listing KPC, the NSE will increase its market value and offer more investment options for Kenyans.