Rwanda’s Capital Market achieved another historical milestone today as it was the official listing of Bank of Kigali Limited, the largest bank in the country and the second domestic company on the 7 months old RSE.
The listing comes from a landmark IPO as it was the biggest IPO in East Africa since June 2008 and the company got a subscription rate of 376% on the 45% ordinary shares floated in June this year.
On the its first day of trading, Bank of Kigali shares opened at Rwf 135 and hit a high of Rwf 200 and a low of Rwf 131 to close at Rwf 190, registering a 52% increase from the IPO price of Rwf 125.
The total turnover for the day was Rwf 658,091,500 from 4,836,200 Bank of Kigali shares and 9,600 Bralirwa shares traded in 21 deals. KCB and NMG shares last transacted at Rwf 175 and Rwf 1,200 respectively.
At the end of business, 6.9 million shares of Bank of Kigali were on offer between Rwf 199 and Rwf 257, and bids of 3.05 million BK shares at Rwf 130. On the Bralirwa counter, 20,000 shares were on offer at Rwf 255, and there were bids of 400 shares and 494,400 shares at Rwf 244 and Rwf 246, respectively.
NMG shares are trading ex dividend, following the Group’s books closure on 26th August, 2011. The dividend of Ksh.1.50 will be paid on 30th September 2011.
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