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Mystery investors transfer KPC shares worth Sh42bn
President William Ruto rings (centre) the bell to mark the start of share trading for the Kenya Pipeline Company IPO at the Nairobi Securities Exchange. With him is National Treasury Cabinet Secretary John Mbadi (right) and Energy Cabinet Secretary Opiyo Wandayi.
Unidentified investors transferred 4.5 billion shares of Kenya Pipeline Company (KPC) worth Sh42.5 billion through the Nairobi bourse in a firm whose new top shareholders include the government of Uganda and Kenya’s National Social Security Fund (NSSF).
The shares are equivalent to 24.76 percent of the KPC stocks, keeping the transaction below the threshold of 25 percent that would have required the approval of the Capital Markets Authority (CMA).
