The Kiharu Member of Parliament Ndindi Nyoro is now the largest individual shareholder at The Kenya Power and Lighting Company after tripling His shares.
According to the latest filings by the Capital Markets Authority, Ndindi Nyoro tripled his shares from 9,116,800 shares to 27,291,400. This was from June 2021 to the latest purchase in June 2022.
Nyoro now comes third on the KPLC’s stake, after National Treasury and Standard Chartered Nominees.
Currently, the National Treasury is the largest shareholder with a total of 978,492,034 by the end of June 2022. This reflected an increment of 850,339 from last year’s evaluation.
The treasury is followed by Standard Chartered Residual nominees who have a total stake worth 32,518,589.
Nyoro who is serving his second term as the Kiharu MP is one of the wealthiest politicians, who doubles up as a businessman. He highlighted the Company’s asset values and advised any other person seeking investment opportunities to join in.
A share at the Kenya Power and Lighting Company goes for 1.60 Kenyan Shillings. This is according to data provided by the Nairobi Stock Exchange.
“The company is valued at less than 1 percent of its asset value. I am buying KPLC shares because I know we can fix the issues of electricity when allowed to make decisions. It has a lot of sleeping capital which can be used to assist more homes.” Said Nyoro.
Nyoro ranked first individual investor, defeating Naran Khimji and Virji Khimji Hirani who had previously topped the list with 23,845,364 KPLC shares.
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The Kiharu MP also has major investments in construction, civil works, stock brokerage, drilling, communication, and water engineering.