Sharp Daily
No Result
View All Result
Tuesday, May 27, 2025
  • Home
  • News
    • Politics
  • Business
    • Banking
  • Investments
  • Technology
  • Startups
  • Real Estate
  • Features
  • Appointments
  • About Us
    • Meet The Team
Sharp Daily
  • Home
  • News
    • Politics
  • Business
    • Banking
  • Investments
  • Technology
  • Startups
  • Real Estate
  • Features
  • Appointments
  • About Us
    • Meet The Team
No Result
View All Result
Sharp Daily
No Result
View All Result
Home News

Ndindi Nyoro sells 36% of his Kenya Power shares

Brenda Murungi by Brenda Murungi
January 30, 2024
in News
Reading Time: 1 min read

Kiharu Member of Parliament Ndindi Nyoro has divested a considerable portion of his shares in Kenya Power, relinquishing his status as the company’s foremost individual shareholder.

He sold a significant chunk of his shares, specifically 11.78 million shares, or 36 percent of his total holdings, between June and December 2023, a move that has reduced his direct ownership to 20.72 million shares.

As of Monday’s closing price for Kenya Power shares at KES 1.40 each, Nyoro’s current ownership of 1.06 percent in the company is valued at KES 29 million. The shares he sold during the six-month period amounted to KES16.5 million at the current price.

Back on June 30, 2023, when his stock market account showed he had 32.5 million shares, the value of his stake was KES 51.35 million, considering the prevailing price of KES 1.58 per share.

RELATEDPOSTS

NSE expands derivatives market with new options contracts

October 25, 2024

Lawmakers push for permanence of National Development Fund

September 26, 2024

With the recent sale, Ndindi Nyoro has relinquished his top position and now ranks second, trailing behind Naran Khimji Hirani and Virji Khimji Hirani. The Hirani duo jointly holds KES 23.85 million shares, equivalent to a 1.22 percent stake in Kenya Power.

Kenya Power’s ownership is further diversified among individual shareholders from Kenya and the East African Community (EAC), collectively holding 605.9 million shares valued at KES 848.3 million, representing a 31.05 percent stake.

The Kenyan government, together, holds a stake of 1.26 billion shares, 64.36 percent valued at KES 1.76 billion. The remaining 89.58 million shares, or 4.6 percent, are in the hands of foreign investors.

Analysts consider Kenya Power’s stock, listed on the Nairobi Securities Exchange (NSE), as undervalued, featuring a price-to-book (P/B) ratio of 0.78. This makes it appealing to long-term investors who are prepared to endure the extended bearish market conditions.

Kenya Power is, however, a major user of foreign currency in the country, needing around $45 million to $50 million and €18 million to €20 million monthly to fulfill its obligations.

Previous Post

Ruto calls for Africa-Europe green energy partnerships

Next Post

Tanzania, Uganda outshine Kenya in fight against crime in latest report

Brenda Murungi

Brenda Murungi

Related Posts

News

Co-op Bank posts KES 6.9 billion profit in Q1’2025

May 16, 2025
Agriculture And Economy
News

Lets get Kenya out of FATF list

May 9, 2025
News

The downside of Impact Investing

May 2, 2025
News

Leadership challenges at the University of Nairobi

April 24, 2025
News

Easter eggs and earnings: Growing your nest egg with CMMF

April 16, 2025
News

Geoffrey Ruku declares KES 377M net worth during CS vetting

April 15, 2025

LATEST STORIES

What Africa’s Great Migration Can Teach Modern Travelers

May 27, 2025

Government reverses plan for parents to pay exam fees

May 27, 2025

Ripple effects of WFP’s cash transfer cuts on Kenya’s rural economy

May 27, 2025

Kenya’s textile industry: Weaving a new future

May 27, 2025

The era of social commerce is here

May 27, 2025

Elgeyo Marakwet leaders demand action on banditry

May 26, 2025

The rise of Kenya’s blue economy: A new frontier for investment

May 26, 2025

World Bank: Kenya’s growth at risk from debt and poverty

May 26, 2025
  • About Us
  • Meet The Team
  • Careers
  • Privacy Policy
  • Terms and Conditions
Email us: editor@thesharpdaily.com

Sharp Daily © 2024

No Result
View All Result
  • Home
  • News
    • Politics
  • Business
    • Banking
  • Investments
  • Technology
  • Startups
  • Real Estate
  • Features
  • Appointments
  • About Us
    • Meet The Team

Sharp Daily © 2024