Kiharu MP Ndindi Nyoro has sold his substantial stake in Kenya Power, marking a significant change in his financial involvement with the company.
This move comes as a surprise to many, following his aggressive investment strategy in the past years.
Ndindi Nyoro, a prominent figure in Kenya’s political and business landscapes, has offloaded his 36% stake in Kenya Power worth Sh16 million.
He now owns a 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
He now comes 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.
Background of Nyoro’s investment in Kenya Power
Nyoro’s journey with Kenya Power began with significant investments, as reported by Pulselive.co.ke in previous articles.
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.
His decision to triple his shares positioned him as a key player in the energy market, showing a deep belief in the company’s growth trajectory.
However, the latest development of selling his stake paints a different picture of his investment strategy and perception of the company’s future.
Nyoro’s exit from Kenya Power raises questions about the company’s prospects and the overall state of the energy sector in Kenya.
Investors and market analysts are closely watching this development, as it could signal a shift in the dynamics of the industry.
Kenya Power, a monopoly in the distribution of power, faces its own set of challenges and opportunities in the evolving energy landscape.
