Kenya Power Share Prices Hit Over 100% Recovery On NSE After Years Of Struggle

• Kenya Power and Lighting Company (KPLC) has seen its share prices surge over 100% on the Nairobi Securities Exchange (NSE) in recent months
• KPLC's stock price has increased by 84.69% in the past month, 109.25% over the last three months, and 142.95% year-on-year, closing at KSh 3.62 per share on September 23, 2024
• The company has witnessed a rise in trading activity, with 3.04 million shares exchanged, surpassing its 65-day average of 1.39 million shares

Elijah Ntongai, a journalist at TUKO.co.ke, has more than three years of financial, business, and technology research and reporting expertise, providing insights into Kenyan and global trends.

Kenya Power and Lighting Company (KPLC) has made a remarkable recovery at the Nairobi Securities Exchange (NSE).

The power company's share prices have recorded over 100% surge in recent months.

TUKO.co.ke observed that as of September 23, 2024, KPLC's stock closed at KSh 3.62, marking a significant turnaround after struggling on the Nairobi bourse.

KPLC share price history

The latest data shows that the company's stock experienced an impressive 84.69% increase over the past month and a staggering 109.25% rise over the last three months.

Additionally, Kenya Power share prices have increased by 142.95% compared to the prices recorded a year ago and 116.77% over the past six months.

The share price momentum has been driven by increased trading volumes, with 3.04 million shares traded, well above the 65-day average of 1.39 million shares.

The turnover reached KSh 11.01 million, highlighting a surge in market activity surrounding KPLC.

With a market capitalization of Ksh 7.06 billion and a price-to-earnings (P/E) ratio of 7.04, Kenya Power's stock is becoming increasingly attractive to investors.

Kenya Power shareholders

The Kenyan government is the biggest Kenya Power shareholder, with 50.09% ownership, followed by other private companies and individuals.

Prominent investment firms holding significant shares in KPLC include Standard Chartered Nominees Limited at 20.61%, KCB Nominees Ltd at 5.72%, Kenindia Assurance Company Limited also at 5.72%, and CFC Stanbic Nominees Ltd holding 2.97%.

TUKO.co.ke reported that Kiharu MP Ndindi Nyoro had become the largest individual shareholder after tripling his KPLC shares in the first half of 2022.

Nyoro's stake rose from 9,116,800 shares in June 2021 to 27,291,400 shares reported in June 2022.

In 2023, Nyoro sold 11.78 million shares, representing a 36% reduction in his ownership of the Kenya power, placing him behind Naran Khimji Hirani and Virji Khimji Hirani.

Proofreading by Mercy Nyambura Guthua, journalist and copy editor at TUKO.co.ke