Listed companies in which the government has a controlling stake or major influence have shed Sh408.5 billion in value this year, raising fears of undervaluation when the State offers additional parastatals for listing under its recently announced privatisation plan.
The decline in the valuation of the companies, which include Safaricom, KCB Group, KenGen, Kenya Power, Kenya Re, East Africa Portland Cement Company and Uchumi Supermarkets, is part of a wider bear run at the bourse, which has on the whole shed Sh518.4 billion in investor wealth since January.
