Denis Opudo
Gideon Muriuki, the CEO of Kenya’s Co-op bank recently sold shares worth Kshs. 161 million. The sales equal to almost 10 million shares of the lender in Nairobi Securities Exchange. The transaction follows after his stake in the bank reduced from 2.05% in September 2017 to 1.88% in December 2017. The sale by Muruiki comes after the share prices rose by about 7%
Muriuki who has been utilizing opportunities by buying more shares when the stock is cheap and taking profits in a stronger market still retains his role as CEO and the bank’s largest local individual shareholder in the lender.
The Nairobi stock exchange said that in 2017, Co-op’s shares were worth Kshs. 93.8 billion which was a 48% rise from the previous year. The stock price also maintained being Kshs. 16.2 between October and December 2017.
Muriuki had also spent approximately Kshs. 100 million in the first seven months of 2013 to buy shares when the price-to-earnings ratio was approximately 5%.
