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CEO Geoffrey Odundo triples his stake in NSE company


CEO Geoffrey Odundo triples his stake in NSE company

Thursday June 15 2023

Nairobi Securities Exchange (NSE) CEO Geoffrey Odundo. FILE PHOTO | DIANA NGILA | NMG

Nairobi Securities Exchange (NSE) Limited chief executive Geoffrey Odundo last year tripled his shareholding in the company, coinciding with the period share prices of many stocks were on a decline.

The company discloses in the latest annual report that Mr Odundo’s shareholding closed the year at 154,582 shares compared with 49,000 in the previous year.

This marked the first time since 2020 that Mr Odundo added his shareholding at NSE Limited. Mr Odundo had in 2020 raised his shareholding from 49,000 shares to 94,000 shares before cutting back to 49,000 in 2021.

The current shares are an equivalent of 0.006 of the total issued shares. NSE Limited shares opened Thursday trading at Sh5.94, putting Mr Odundo’s stake at Sh917,624 compared with last year's peak of Sh8 which valued his stake at Sh1.23 million.

Mr Odundo has been the chief executive of the Nairobi Securities Exchange Plc for the past eight years.

He was to leave the firm on February 28, 2023 on completing his second four-year term but the board extended his contract by another year.

Mr Odundo is an investment banker and has been in the financial services sector for the last 30 years holding senior roles in asset management, corporate finance and securities trading.

Prior to joining the NSE, Mr Odundo was the managing director of Kingdom Securities Limited and chief manager of merchant and investment banking at the Co-operative Bank of Kenya Group.

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