Companies

Safaricom share hits new high

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Safaricom headquarters on Nairobi’s Waiyaki Way. PHOTO | DIANA NGILA

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Summary

  • The share price closed at Sh36.50 after hitting an intra-day trading price at Sh37.
  • The rally has helped the firm’s paper value at Nairobi Securities Exchange to rise to Sh1.462 trillion, with total market capitalisation at Sh2.431 trillion at the end of business Thursday.
  • On year-to-date, Safaricom’s investors have gained Sh90.55 billion in wealth.

Safaricom's share price Thursday hit a new record on high demand by foreign investors, lifting the company’s value at the Nairobi bourse to more than 60 percent of the total market capitalisation.

The share price closed at Sh36.50 after hitting an intra-day trading price at Sh37.

The rally has helped the firm’s paper value at Nairobi Securities Exchange to rise to Sh1.462 trillion, with total market capitalisation at Sh2.431 trillion at the end of business Thursday.

On year-to-date, Safaricom’s investors have gained Sh90.55 billion in wealth.

“Safaricom continued to excite the market touching an all-time high of Sh37.0 before easing down to close at Sh36.50 with shares worth Sh305 million transacted, this represented 66.06 of the day’s traded value,” NSE said.