Olympia Capital Holdings share price increased by 198 percent on Wednesday, fueled by what has been described as the Ndindi Nyoro market effect.
This sharp increase came barely hours after news that the businessman and investor who is also the Member of Parliament for Kiharu had acquired a stake in Olympia. A spot check by Bizna Kenya showed that on average, the Olympia Capital shares went up from Sh7.22 per share on Tuesday October 27 to Sh21.55 as at the end of trading of Wednesday October 28.
During the day’s intra-trading session, the shares hit a 52 week high of Sh150 per share from a low of Sh7.94 per share. This counter enjoyed a traded volume of 205,563 which was a record high for the counter’s daily traded volume.
Ndindi had acquired a 9.7 percent stake worth Sh29.8 million in Olympia Capital through his investment firm which is known as Limpopo Capital Limited. The stake acquired by Nyoro comprised of 3,982,253 shares. It placed him as the third largest shareholder in Olympia.
Following the share rally, Ndindi made Sh57.1 million in paper profit in yesterday’s session alone. His shares were worth about Sh85.8 million at the end of the trading session on Wednesday, having opened the market at around Sh29.8 million.
Ndindi is not stopping at 9.7 percent stake only. He is aiming to acquire additional shares in this company that will push his stake to 25 percent. By holding 25 percent of the company, Nyoro will have met the set threshold to declare his intention of taking over this business, which he is aiming to convert into an investment firm.
“The plan is to transform the company into some kind of Berkshire Hathaway [investment business],” Nyoro told local media.
Nyoro has however said that if he is unable to acquire a controlling stake in the company, he will sell his newly acquired stake at a profit and exit the company altogether.
Ndindi Nyoro: This is how I would invest a lumpsum of Sh20 million
He revealed that he started acquiring his shares in this company in the year 2025.
“I started buying Olympia Capital Holdings in 2025. I thought I’d get enough supply to at least 25 percent but liquidity of the share is low,” said Nyoro. “What I need to do with it can only happen when we have higher shareholding. If it’s difficult, then we will exit [sell off our shares].”
The company has interests in the real estate sector, logistics businesses and the hospitality industry.
