BRALIRWA IPO sensitization goes to Western province

Government has intensified public sensitization campaigns countrywide in a bid to attract more investors to buy its shares, following the official launch of the Bralirwa Initial Public Offer (IPO) last week, that allows the general public to own a portion of the company. The campaign which is done through road shows has covered most of the Eastern Province and it moved west to Rubavu and Nyabihu, on Thursday and Friday, respectively. “The road shows essence is to talk to political, civic and business leaders about the importance of investing in the shares and ,after that they will pass on the message to the residents,” said Andrew Owiny,Executive Director of MBEA Brokerage Services who also doubles as the lead transaction advisor for Bralirwa’s IPO. The listing which represents 25 percent of government’s shares in the company is worth 128,570,000 shares with each share being sold at Rwf 136 . The offer period for potential investors closes on December 17, this year. According to Owiny, the shows have attracted a lot of interest from the local population who are keen to buy shares in the country’s largest brewery and soft drinks maker. “Sensitization is a process; we hope through these road shows, a great job will be done,” Owiny said. He also encouraged the public to invest in Bralirwa pointing out that investors will appreciate the returns once they try it. The road shows have been to Nyagatare, Gatsibo, Ngoma, Kayonza, Nyaruguru, Huye, Bugesera among other districts.The minimum per application form which costs Rwf13, 600 is 100 shares. Each application form must be accompanied by cash or a valid banker’s cheque for the full amount payable for the offer shares applied for. Application forms can be accessed from licensed brokerage firms including MBEA, Dyer&Blair Securities, African Alliance Rwanda, Continental Discount House, Dallas Securities and Faida Securities. This is in addition to receiving banks such as Kenya Commercial Bank (KCB) Rwanda, Commercial Bank of Rwanda (BCR) and Bank of Kigali. While 35 percent will go to retailer investors from the domestic investors’ pool including other EAC citizens, in case of oversubscription in the retail sub-pool, priority will be given to Rwandan citizens for up to 60 percent of the offer shares allocated. According to the Prospectus announcement of the offer and risk allotment results will be made public on 18th January next year, while shares will start trading on the Rwandan Stock Exchange on January 31. Ends

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BRALIRWA IPO sensitization goes to Western province