Kenyans looking to invest in the Kenya Pipeline Company (KPC) Initial Public Offering (IPO) can now do so through a modernized electronic system known as the e-IPO.
The process has been designed to make share applications faster, simpler and more accessible to both individual and institutional investors.
There are two main ways to apply, through a USSD code on your mobile phone or via an online portal using an internet-enabled device.
Individual investors can apply using their mobile phones through a USSD code.
On the other hand, all categories of investors can use the comprehensive online portal for a more flexible application experience.
How to acquire shares through USSD application
For the USSD application, investors are required to dial 483816# from their registered Kenyan mobile number.
This option offers quick and convenient mobile access and comes with integrated M-Pesa payment, allowing applicants to complete both the application and payment process directly from their phones.
However, this method is available only to individual investors and requires the applicant to already have a CDS account.
How to acquire shares through the online portal
The second option is the online portal, which can be accessed at https://kpcipo.e-offer.app from any internet-enabled device.
This method features a comprehensive application interface and supports multiple payment options.
Unlike the USSD route, the online portal is available to all investor types, including institutional investors.
Requirements
Before starting an application through either method, investors must ensure they meet several essential requirements.
First, they must have a valid CDS account, which serves as a securities holding account in Kenya.
Those who do not already have one are advised to contact their stockbroker or investment bank immediately to open an account before the offer closes.
Applicants must also have sufficient funds to cover the intended share purchase.
Investors are advised to ensure their M-Pesa wallet or bank account has enough money by calculating the total cost, which is determined by multiplying the number of shares by the offer price and adding a small buffer to cover any transaction fees charged by their financial service provider.
A registered mobile number is another key requirement.
For USSD applications, the Kenyan mobile number must be active and registered in the investor’s name.
For online applications, a valid mobile number is required to receive SMS updates on application status and payment confirmations.
Offer details and how to make payments
Investors are encouraged to review the offer details carefully before placing their applications.
Each KPC share is priced at Ksh9.00, and the minimum investment per application is 100 shares, which translates to a minimum cost of Ksh900.
Applicants are free to buy more than the minimum number of shares depending on how much they wish to invest.
To place an application, investors should log into their preferred platform, select the ‘Kenya Pipeline IPO’ option and enter the number of shares they intend to purchase.
It is important to have the CDS account number ready during this step to ensure the application is processed correctly.
Payment is fully integrated into the digital application process; investors can pay directly via M-Pesa or other mobile money services during the application.
For larger investments, payment can also be made through bank transfer or EFT.
Those who already have funds in their brokerage accounts may use their account balances to complete the transaction.
After submission
After submitting an application and making payment, investors will need to wait for allocation and listing.
Once the offer period closes on February 19, 2026, shares will be allocated.
In the event the IPO is oversubscribed, meaning demand exceeds the number of available shares, applicants may receive only a percentage of the shares they applied for, with any excess money refunded.
Trading in KPC shares is set to begin on March 9, 2026, when the company will officially be listed on the Nairobi Securities Exchange (NSE).
At that point, investors will be able to view their shares in their CDS accounts and choose whether to hold them for dividends or sell them at the prevailing market price.
Important dates
Several key dates have been outlined for the IPO.
The offer opens on Monday, January 19, 2026, and closes on Thursday, February 19, 2026. The listing on the NSE is scheduled for Monday, March 9, 2026.
