Britam building situated at Upper Hill in Nairobi. The firm's share Monday hit a high of Sh17.8 which is nearly double its IPO price of Sh9 in July 2011. FILE
What you need to know:
Britam share Monday hit a high of Sh17.8 which is nearly double its IPO price of Sh9 in July 2011 and represents a 22.7 per cent gain in the past month.
Mr Rawat has made the biggest gain of Sh1.2 billion over the past one month, with the valuation of his Britam shares surging to Sh6.8 billion.
He is followed by Mr Munga who gained Sh1.08 billion in the same period that put his Britam portfolio at Sh5.8 billion.
The share rally has been linked to Britam’s aggressive expansion plan that has seen it spend hundreds of millions of shillings in multiple acquisitions.
Britam’s top investors Dawood Rawat and Peter Munga have gained more than Sh1 billion each to their holdings over the past month as the firm’s stock Monday rallied to a new peak.
The share Monday hit a high of Sh17.8 which is nearly double its initial public offer (IPO) price of Sh9 in July 2011 and represents a 22.7 per cent gain in the past month.
The share rally has been linked to Britam’s aggressive expansion plan that has seen it spend hundreds of millions of shillings in multiple acquisitions.
Mr Rawat has made the biggest gain of Sh1.2 billion over the past one month, with the valuation of his Britam shares surging to Sh6.8 billion.
He is followed by Mr Munga who gained Sh1.08 billion in the same period that put his Britam portfolio at Sh5.8 billion. Other shareholders also booked huge gains.
The holding of investment banker Jimnah Mbaru rose by Sh723 million to Sh3.9 billion while that of lawyer Jane Michuki jumped by Sh593.4 million to Sh3.2 billion.
Britam’s CEO Benson Wairegi gained Sh330.9 million while Equity Bank CEO James Mwangi gained Sh247.5 million, with the worth of their Britam shares rising to Sh1.7 billion and Sh1.3 billion respectively.
The company is in talks to buy an asset management firm as it moves to complete its 99 per cent acquisition of Real Insurance in a cash-and-stock deal valued at nearly Sh1 billion.
