Rush for Bank of Kigali shares to boost trading on the young RSE
The bank’s IPO has done better than that of Bralirwa, whose shares picked in the last week of the offer. Picture: File
Bank of Kigali’s oversubscribed initial public offering is expected to increase activity on Rwanda Stock Exchange as local investors demand more of the bank’s shares once they list, analysts say.
While the government had initially planned to raise Rwf37.5 billion ($63 million) from its recent sale of 300.3 million shares or 25 per cent at Rwf 125 ($0.21 cents), the IPO attracted applications worth Rwf103 billion ($ 172.8 million), representing a subscription rate of 274 per cent.
