Kiharu Member of Parliament, Ndindi Nyoro, has solidified his position as a significant player in the Nairobi Securities Exchange (NSE) with the acquisition of 20 million shares in TransCentury Plc.
Ndindi Nyoro buys 20M shares in infrastructure firm
The MP who offloaded millions from Kenya Power in January this year is now among the leading shareholders in TransCentury Plc.
Kiharu Member of Parliament Ndindi Nyoro
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Nyoro now secures the fourth spot among the top shareholders of the infrastructure-majoring company.
This development underscores his expanding presence within the financial markets, positioning him as a notable figure to watch.
Ndindi Nyoro's purchase of 20 million shares in TransCentury Plc, as revealed in February 2024 regulatory filings, showcases a calculated step towards diversifying his investment portfolio.
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With a stake amounting to 1.77% of the company, valued at approximately Sh8.6 million, Nyoro asserts his position among the top shareholders in TransCentury.
Nyoro's foray into TransCentury marks a significant expansion of his presence at the Nairobi Securities Exchange.
Kiharu MP Ndindi Nyoro
Kiharu MP Ndindi Nyoro
Pulse Live Kenya
Known for his focus on low-priced counters, the acquisition of shares in the infrastructure firm aligns with his investment strategy, further bolstering his footprint within the financial markets.
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TransCentury's ownership structure has witnessed notable changes following the rights issue, with new significant holders entering the fray and existing shareholders experiencing partial dilution.
Ndindi Nyoro offloads millions of Kenya Power shares
In January 2024, Nyoro offloaded his 36% stake in Kenya Power worth Sh16 million. He now owns 1.06% of the company worth Sh29 million at the current share price.
This sale represents a major departure from his previous bullish stance on the company, where he was once the largest individual shareholder.
Kiharu MP Ndindi Nyoro during a past media address in Parliament
Kiharu MP Ndindi Nyoro during a past media address in Parliament
Pulse Live Kenya
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He is second after Naran Khimji Hirani and Virji Khimji Hirani. They jointly own a 1.22% stake in Kenya Power.
His decision to sell has sparked widespread speculation about the future of Kenya Power and the energy sector in the nation.
He had increased his shares in the company, making him a noteworthy stakeholder.
This move was part of a strategic plan to reap substantial profits, reflecting his confidence in the potential of Kenya Power.
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