pipeline tariffs

Uganda National Oil Company (UNOC) invested over UGX 918 billion in the recently concluded initial public offering (IPO) of Kenya Pipeline Company (KPC), marking one of the region’s largest state-linked cross-border infrastructure transactions this year. UNOC confirmed that it acquired 31% of the shares offered to the public in the IPO, which closed on Tuesday. The acquisition translates into an effective 20.15% shareholding in KPC. The remaining 35% of KPC that was not floated was retained by the government of Kenya. This means UNOC now controls close to a quarter of the overall shareholding in the pipeline company, positioning it…