Kenya Pipeline Co., the state-run oil transporter, plans to raise 106.3 billion shillings (824.1 million US dollars) through the nation’s largest initial public offering in more than a decade, Bloomberg reported.

The sale, representing about 65 percent of the company, will offer 11.8 billion shares and runs from January 19 to February 19.

The pipeline operator recorded a 65 percent increase in pre-tax profit for the financial year ending in June, reaching 16.5 billion shillings. Its network spans 1,342 kilometres (834 miles) and can transport roughly 14 billion litres of petroleum products annually, according to the company’s website.

“It is a decision about capital efficiency rather than asset disposal,” National Treasury Secretary John Mbadi said at the IPO launch, noting that these companies “are not supposed to be kept like souvenirs.”

Kenya’s first IPO since 2015 comes as the country seeks to mobilise funds for infrastructure amid rising debt pressures. Last year, the benchmark stock index surged 51 percent in local-currency terms, marking the largest annual gain since the index was established in 2008.

The offering is expected to be the largest IPO since Safaricom Plc raised 50 billion shillings in 2008. Nairobi Securities Exchange Chief Executive Officer Frank Mwiti said the sale “represents an important milestone in the renewal of Kenya’s primary exchange and signals renewed confidence in the role of capital markets in financing our nation’s economic transformation.”