Kiharu MP Ndindi Nyoro has sold 11.78M shares representing 36% of his shares held at Kenya Power & Lighting Company (KPLC). This reduces his tight grip of the power distributor to 20.72M units.
The MP’s present stake at KPLC is 1.06%, representing KSH. 29M, going by the company’s closing price of KSH. 1.40 per share on Monday. The value of the shares sold by the MP are worth KSH. 16.5M, at the current price.
The lawmaker has for at least a year been the single largest individual shareholder at KPLC. He tightened this grip last August when he purchased additional 5.2M KPLC shares.
