Kiharu Member of Parliament Ndindi Nyoro has gained close to Sh. 200 million from his investment at Kenya Power in about six months. This gain is the result of massive rally that has seen Kenya Power shares rise by an astonishing 322 per cent within six months.
AT the same time, the member of parliament who is known to hold various investments in counters that are listed on the Nairobi Securities Exchange is further expected to pocket close to Sh. 21 million from the payment of dividends by Kenya Power.
The dividends that are to be paid at Sh. 0.70 per share and the gains from the shares bull run will see Ndindi Nyoro cumulatively book a gain of Sh. 198 million within just six months. The dividends shall be paid out on January 31, this year.
At the close of trading on Friday, the Kenya Power shares were trading at a day’s high of Sh. 7 per share and a day’s low of Sh. 6.92 to close the market at an average of Sh. 6.98 per share.
According to regulatory filings, Ndindi held 30 million Kenya Power shares as at the end of December 2024. These shares were equivalent to a stake ownership of 1.54 per cent of the company.
This stake was an improvement from the 20.08 million shares that the investor held as at the end of June 2024. In 2023, Ndindi had become the largest individual shareholder at Kenya Power with 32.5 million shares.
“I am buying KPLC shares because I know we can fix issues of electricity when allowed to make decisions. It has a lot of sleeping capitalism which can be used to assist more homes,” Ndindi had said at the time, adding that Kenya Power was largely undervalued. “The company is valued at less than one per cent of its asset value,” he said
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In the six month period between June and December 2023, regulatory filings showed that he had sold off 11.78 million shares to cut his stake by about 36 per cent to 20.72 million shares.
The sell off relegated Ndindi to the second largest individual shareholder position behind Naran Khimji Hirani and Virji Khimji Hirani.
At Kenya Power, the government has a controlling stake of 50.1 per cent of shareholding with private investors holding a 49.9 per cent stake.
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