Eveready share price jumps on news of deal with soap maker

The share price of troubled battery-maker Eveready rose sharply yesterday following a shareholder approval to re-invent itself through a joint venture with soap manufacturer Orbit Chemicals.

At the close of trading, Eveready stock was priced at Sh4.55 – levels last seen in October 2008, a more than 8 per cent jump in value yesterday alone. Shareholders of the company that was once known in most households for its dry cells for radio and flash lights, also gave their nod to have the idle plant in Nakuru sold during the annual general meeting held last week.