Kiharu MP Ndindi Nyoro has purchased 20 million shares in infrastructure company TransCentury Plc, placing him fourth among the top shareholders of the Nairobi Securities Exchange (NSE)-listed firm.

Mr Nyoro's ownership, amounting to a 1.77 percent stake currently worth Sh8.6 million, appeared in February 2024 regulatory filings seen by this publication.

He ranks behind private equity firm Kuramo, Anne Pearl Karimi Gachui and former taxman Michael Gitau Waweru — TransCentury’s top three shareholders as of the end of last month.

Read: TransCentury share sheds 10pc amid fight

The purchase of TransCentury's shares marked the MP's expansion of his portfolio at the NSE where he has focused on low-priced counters. The infrastructure firm's share price closed trading at 43 cents on Wednesday.

In June last year, the lawmaker’s Sh51.35 million stake in Kenya Power was revealed, comprising 32.5 million shares at the then prevailing price of Sh1.58.

Mr Nyoro’s stake in Kenya Power had, however, declined to 20.72 million shares following the sale of 11.78 million shares by the end of December 2023.

The lawmaker’s increased stake in TransCentury is likely from a combination of his participation in the firm’s recent rights issue and the purchase of the company’s shares in the open market.

On December 29, 2022, the infrastructure firm opened a rights issue in which it offered five new shares for every one share held with the goal of raising up to Sh2 billion to unlock new working capital.