Kenya Power Shares Jump, Heading for Biggest Gain in 13 Months
February 23, 2012, 9:16 AM ESTBy Paul Richardson
Feb. 23 (Bloomberg) -- Kenya Power & Lighting Ltd., the East African nation’s sole electricity distributor, surged in Nairobi trading, heading for its largest gain in more than 13 months.
The stock jumped 6.3 percent to 17 shillings at 2:25 p.m. in Nairobi, the capital, on volume of 612,100 shares, more than triple the three-month average. A close at that level would mark the biggest advance since Jan. 3, 2011.
Kestrel Capital East Africa Ltd., a Nairobi-based brokerage, yesterday maintained its “long-term buy” on the stock with a price estimate of 22 shillings.
To contact the editor responsible for this story: Paul Richardson at pmrichardson@bloomberg.net
