At the close of trading at the Nairobi Securities Exchange (NSE) this Monday, BOC Kenya, which has a market capitalization of KSh 1.96 billion, recorded one of its biggest stock move yet.
BOC led the gainers with its share price edging 10.7% to KSh 100.50. This counter also moved its highest volume of 6,006 shares as investors reacted to reports of its impressive half-year earnings. The listed firm released its half year results which showed its net profit surging 170% to KSh 166.7 Million.
Its Earnings per Share, an indicator of profitability, rose to 8.54 from 3.16 in June 2024 while its balance sheet size grew 19.2% to KSh 2.45 billion from KSh 2.06 billion in June 2024. BOC Kenya cash reserves blew up 52% to KSh 863 Million at the end of 30th June 2025, a turnaround from negative KSh 73.70 Million in H1, 2024.
Shareholders have been rewarded with an interim dividend per share of 2.5%, the same as that paid for Half-Year 2024 performance.
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BOC began the year with a share price of KSh 88.75 and has since gained 13.2% on the counter. Over the past month, the BOC share price has edged 12%, placing it 22nd best performing counter at the NSE.
BOC Kenya is a subsidiary of UK-headquartered Linde Group, the world’s largest industrial gas supplier by market share and revenue. BOC Kenya is engaged in manufacture and sale of industrial and medical gases as well as sale of welding products. With a presence in Kenya, Uganda and Tanzania, BOC Kenya subsidiaries include East African Oxygen Limited, BOC Tanzania and BOC Uganda Limited.
BOC Kenya has been in focus for close to 4 years after Carbacid Plc, a listed carbon dioxide manufacturer, initially sought to acquire it in a KSh 1.2 billion deal. After a noisy battle that pitted Carbacid and powerful shareholders at BOC, this buyout proposal lost steam and fizzled out.
The takeover bid was suspended on 2 March 2021 following an appeal case filed by Kiuna Ngugi Kiuna, now the largest individual shareholder at BOC with a 17.91% stake. While this case was eventually dismissed by the Capital Markets Authority tribunal, Carbacid walked away from the deal table citing lapsed stipulated timelines.
BOC Holdings (UK) is the largest shareholder at the NSE listed firm with a 65.38% stake as at March 2025, followed by Kiuna Ngugi (17.91% or 3,497,026 shares). Other top 10 shareholders include Allied Storage Limited (0.65% or 127,479 shares), John Okuna Ogango 116,200 shares or 0.60%, Mrs Carolyn Anne Gray Rosso (110,143 share- 0.56%) Margaret Wambui Ngugi 100,281- 0.51%, Ruphael, Shila Jayant Kumar Jamnadas 79,980 or 0.415% and Njoroge Lucy Muthoni owning 79,000 shares or 0.40% stake.
BOC Shareholding is composed of the 10 top shareholders who own 89.19% of the firm while only 10% is held by other shareholders, Total issued shares amounts to 19,525,446 shares with foreign companies owning 68.385 or 13.4 million shares.
Established in Mombasa, Kenya, 85 years ago, BOC Kenya, has curved its space as a leading supplier of industrial, medical and special gases in East Africa.
BOC Kenya has been in focus for close to 4 years after failed takeover by Carbacid Plc, a listed carbon dioxide manufacturer, initially sought to acquire it in a KSh 1.2 billion deal.
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