Kenya Pipeline IPO shares to be allocated pro rata, advisor says

Allocation of shares in the Kenya Pipeline Company (KPC) Initial Public Offering (IPO) will be on a pro rata basis, meaning that late bidders will still have a chance to receive shares. This allays fears that late comers into the bidding will miss out.

Dr Kenne Belgrade of Faida Investment Bank, the lead transactional adviser for the KPC deal, says the one-month period given for the IPO is meant to allow purchasers to arrange for financing.

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`;
} else {
teaserEl.innerHTML = “”;
}

activeEl.innerHTML = “”;
paywallEl.style.display = “block”;

} else if (now >= saleStart && now <= saleEnd) {
paywallEl.style.display = “none”;

var diffToEnd = saleEnd – now;
var totalSeconds = Math.floor(diffToEnd / 1000);
var days = Math.floor(totalSeconds / (24 * 3600));
var hours = Math.floor((totalSeconds % (24 * 3600)) / 3600);
var minutes = Math.floor((totalSeconds % 3600) / 60);
var seconds = totalSeconds % 60;

activeEl.innerHTML = `

Offer ends in…

${days}Days
${String(hours).padStart(2,’0′)}Hours
${String(minutes).padStart(2,’0′)}Minutes
${String(seconds).padStart(2,’0′)}Seconds

Subscribe Now & Save

`;
} else {
teaserEl.innerHTML = “”;
activeEl.innerHTML = “”;
paywallEl.style.display = “block”;
}
}

function formatTime(ms) {
let totalSeconds = Math.floor(ms / 1000);
const days = Math.floor(totalSeconds / (3600 * 24));
totalSeconds %= 3600 * 24;
const hours = Math.floor(totalSeconds / 3600);
totalSeconds %= 3600;
const minutes = Math.floor(totalSeconds / 60);
const seconds = totalSeconds % 60;
return `${days}d ${hours}h ${minutes}m ${seconds}s`;
}

updateFlashSale();
setInterval(updateFlashSale, 1000);

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Allocation of shares in the Kenya Pipeline Company (KPC) Initial Public Offering (IPO) will be on a pro rata basis, meaning that late bidders will still have a chance to receive shares. This allays fears that late comers into the bidding will miss out.

Follow The Standard
channel
on WhatsApp