Kiharu Member of Parliament, Ndindi Nyoro, has made a significant investment move by purchasing 20 million shares in TransCentury Plc, an infrastructure company listed on the Nairobi Securities Exchange (NSE).
This acquisition positions him as the fourth-largest shareholder in the firm, according to regulatory filings from February 2024.
Currently, Nyoro’s ownership translates to a 1.77 percent stake in TransCentury, valued at approximately Sh8.6 million. He follows behind prominent shareholders such as private equity firm Kuramo, Anne Pearl Karimi Gachui, and former tax official Michael Gitau Waweru.
This purchase reflects Nyoro’s strategic diversification within the NSE, particularly focusing on stocks with lower prices. TransCentury’s shares closed at 43 cents during the recent trading session.
Notably, in June of the previous year, Nyoro’s significant stake in Kenya Power was disclosed, amounting to Sh51.35 million, consisting of 32.5 million shares at the prevailing price of Sh1.58. However, by the end of December 2023, his stake in Kenya Power had decreased to 20.72 million shares due to the sale of 11.78 million shares.
The increase in Nyoro’s ownership in TransCentury likely stems from his participation in the firm’s recent rights issue and additional purchases in the open market.
In December 2022, TransCentury initiated a rights issue, offering five new shares for every one held, aiming to raise up to Sh2 billion to bolster its working capital.
