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Nyoro’s present stake of 1.06 percent in the utility is now worth Sh29 million, going by Kenya Power’s closing price of Sh1.40 per share on last Monday. The value of the shares ceded by the MP in the half-year period stands at Sh16.5 million, at the current price
In a significant development in the corporate landscape in Kenya, Kiharu MP Ndindi Nyoro of Kenya sold 11.78 million shares or 36 percent of the shares he owned in Kenya Power between June and December 2023. This has reduced his directly held stake in the utility to 20.72 million units.
Nyoro’s present stake of 1.06 percent in the utility is now worth Sh29 million, going by Kenya Power’s closing price of Sh1.40 per share on last Monday. The value of the shares ceded by the MP in the half-year period stands at Sh16.5 million, at the current price. On June 30, 2023, when his CDS (stock market) account was listed as holding 32.5 million shares, the stake was valued at Sh51.35 million at the prevailing price of Sh1.58.
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He has now dropped into second place, behind Naran Khimji Hirani and Virji Khimji Hirani, who jointly hold 23.85 million shares in Kenya Power, equivalent to a 1.22 percent stake.
