How Ndindi Nyoro Became KPLC’s Largest Individual Shareholder

  • A report by the Capital Markets Authority reveals that Ndindi Nyoro is the largest individual investor of KPLC.
  • The MP made his first investment when he was a student at Kenyatta University several years ago.

Kiharu Member of Parliament Ndindi Nyoro has publicly admitted that he is the largest KPLC’s individual shareholder after a report released by the Capital Markets Authority showed that he tripled his shares at KPLC over the past one year.

As of June 2021, Nyoro held a total of 9,116,800 shares and has since raised his shareholding capacity to 27,291,400.

After the release, Nyoro wrote how he amassed so much fortune in one company.

“The investment has been accumulated over time. Several years back. We started off in stockbroking from 1st year on campus (KU),” said Nyoro.

After his father died, he decided to open a restaurant at Kenyatta University to support his mother.

Unfortunately, the business performed badly until he decided to shut it down and seek a job in a stockbroking firm.

Through a long post on Facebook, the MP said that he ran a stockbroking firm for a while. He later cofounded a Private Equity firm.

One of the reasons for his choice of KPLC is because the company’s shares are among the cheapest in the market. Following several allegations of fraud between 2018 and 2021, KPLC has seen its shares drop from around KSH6 to less than KSH2.

“The stock is cheap, actually a penny stock. Currently trading at below Ksh 2. With gross full-year revenues of Approximately Ksh 150 B, assets of around Ksh 325B, probably Kenya Power is undervalued,” Nyoro said.

The Kenya Power and Lighting Company (KPLC) is currently valued at KES 3.43 billion in terms of market capitalization. The company’s stock market performance has started showing signs of an upward trend, with a 6-month increase of 9.32%, which is one of the largest share growth in the Nairobi Stock Exchange.

KPLC is a public company with majority stake being owned by the Government of Kenya, which owns 50.1% of total shares. The rest of 49.9% shares are owned by private investors, among whom Ndindi Nyoro commands the majority stake.

With a current share price of KES 1.76, it means that Ndindi Nyoro’s shareholding in KPLC alone is worth KES 48,032,864.

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