Ongeri makes first share sale in Longhorn since listing

Former Education minister Sam Ongeri has sold part of his shares in Longhorn Publishers, becoming the first among the company’s founders to trade in the stock since the book firm listed in May 2012.

Regulatory filings show that Prof Ongeri reduced his stake to 1.65 per cent in December from 1.72 per cent in January last year, trading shares currently worth Sh534,000.

He however remains the second largest individual investor in Longhorn after Francis Nyammo whose ownership stands at 10.95 per cent.

Ms Margaret Mutiso also reduced her holding in the publisher, with her stake dropping to 1.34 per cent from 1.47 per cent in the same period.

Longhorn listed on the Nairobi Securities Exchange (NSE) through introduction and has largely retained its shareholding profile as the founders hold on to their ownership.

It had attracted only one foreign individual investor by December last year while institutional buyers are yet to debut in its books.

The company’s single largest investor is investment firm Centum which has a 34.9 per cent stake currently valued at Sh286 million.

Its share price has gained 10.7 per cent over the past six months to Sh14.05, raising its shareholder wealth marginally from the listing price of Sh14 per share. This values the company at Sh822 million.