The Bank of Kigali has made history by becoming the second East African Bank to list its shares on the Nairobi Stock Exchange.
This means investors in Kenya can now own shares in the bank by virtue of this listing on Friday.
The first East African company to cross list on the Nairobi Stock Exchange was Umeme of Uganda in December 2012.
Bank of Kigali (BK) Group Plc, is currently Rwanda’s largest lender by assets.
The Bank is hoping to inject the funds raised from the Nairobi Bourse into supporting its growth strategy by penetrating untapped retail banking segments in Rwanda.
Chief Executive Officer of BK Diane Karusisi said the move gives ”his outfit the opportunity to give more capital to investors and to reach out to new investors as well.
He added that “the capital realized will be used immediately and efficiently in Rwanda.”
Africafeeds.com understands some 146.15 million shares have been allocated on the Rwanda Stock Exchange (RSE) with the balance of 76.07 million going to the Nairobi bourse.
Bank of Kigali Group Plc is the holding company of Rwanda’s largest commercial lender Bank of Kigali Plc, BK Insurance, stock brokerage BK Capital and technology services business BK TecHouse.
The Bank’s groups largest shareholders are the Government of Rwanda which currently owns (29.5 per cent), Rwanda Social Security Board (25.1 per cent) and international institutional investors (14 per cent).
Source: Africafeeds.com
