- Merali familys 65.46 stake in Sasini Tea lost 2.22 million in 21 days, driven by selling pressure on the Nairobi Securities Exchange.
- Sasini shares dropped 10.15 since Nov. 1, lowering its market cap below 27 million and the Merali familys stake to 19.63 million.
- Year-to-date, Sasini's stock plunged 24.75 in local currency, while currency appreciation limited foreign investors losses to 8.97.
The Merali family, one of Kenyas wealthiest households and the largest shareholders of Sasini Tea, has experienced a sharp drop in the market value of their stake.
The familys 65.46 percent stake in the agribusiness firmequivalent to 168,856,800 ordinary shareshas declined by Ksh287.06 million 2.22 million in the past 21 days due to sustained selling pressure on the Nairobi Securities Exchange NSE .
The latest slump deepens what has already been a difficult year for Sasini Tea. From Aug. 16 to Nov. 1, the Merali family saw the value of their stake slump by 1.9 million , as its market valuation fell from Ksh3.07 billion 23.84 million to Ksh2.83 billion 21.95 million.
Sasini shares drop 10.15 percent, market cap below 27 millionSasini Tea , a renowned agribusiness company, which cultivates and processes tea, coffee, avocado, and macadamia nuts for local and international markets, has seen its shares fall by 10.15 percent since Nov. 1.
Its stock price dropped from Ksh16.75 0.1296 to Ksh15.05 0.1176, dragging Sasinis market capitalization below 27 million.
