Gov’t to launch Bralirwa IPO today

The much anticipated Initial Public Offer (IPO) of Bralirwa, Rwanda’s largest brewery company by market share is slated for this evening at Hotel Serena. The government currently owns a 30 percent stake in Bralirwa and wants to sell 25 percent to the public while the remaining 5 percent will be purchased directly by Heineken group which owns 70 percent. Vincent Munyeshyaka, the chairperson of the privatisation committee which is overseeing the IPO confirmed that the launch is today but declined to reveal details.“Details concerning the share price, how much the government wants to generate are confidential until the minister (of finance and economic planning) announces it this evening,” said Munyeshyaka. However, he said that an investor can purchase a minimum of 100 shares with no limit of a maximum. The sell of government shares in Bralirwa will attract both domestic and foreign investors with investors from the EAC region to be treated as domestic hence enjoying some priority. This means that investors from Kenya, Uganda, Tanzania and Burundi will buy the shares at the same price as Rwandans. In an earlier interview, Munyeshyaka said that the government has a very clear allotment policy which calls for equal treatment of EAC investors. The IPO will last for a month before listing the shares on the Rwanda Over-The Counter (OTC) bourse. The government has also showed interest in offering its ownership in other big companies in the country including MTN Rwanda, SONARWA and CEMERWA. Ends