(Last Updated On: October 21, 2014)
Equity Bank’s CEO Dr James Mwangi stock market billions keep multiplying every year. He, together with his wife Jane, own 6.5 percent stake in Equity Bank. The stake is now worth Ksh12.15 billion and this keeps growing.
Equity Bank stocks have been in a growth spurt since listing back in August 2006. At least 6 billionaires have been minted from this stock. In the last 8 years the stock has had an annual compounded growth rate of 50.4 percent. Mwangi’s stake was worth around Ksh464.2 million at the time of IPO and much less before the company turned into a bank. He currently owns 127.8 million shares which is 3.45 percent stake plus an extra 1.43 percent through the bank’s employee share ownership plan. His ownership is capped at 5 percent due to regulations.
James Mwangi’s wife Jane owns 1.62 percent stake in Equity. This is around 60 million shares. The two also have ownership in Britam worth currently at around Ksh3 billion.