BK names IPO transaction team

Bank of Kigali (BK), Rwanda’s largest bank by asset base, named an eight-member team of experts to prepare its Initial Public Offering (IPO), slated for June this year. The Bank’s Chief Operating Officer (COO), Lawson Naibo, told Business Times that the consortium is made up of Renaissance Capital Rwanda, African Alliance Rwanda, Dyer & Blair Rwanda, Ernst & Young, and Vantage Communications. It also includes CDSC Registrars Rwanda, RR Associates and Mboya as well as Wangong’u Associates. “Renaissance Capital will spearhead the valuation process as well as the drafting of the prospectus; sponsoring brokers will coordinate with Renaissance Capital to provide brokerage services, whereas the reporting accountants will verify the bank’s financial information as well as the accuracy of its projections,” Naibo said in an email interview on Monday. He said Renaissance Capital was selected as a lead transaction advisor, African Alliance Rwanda the lead sponsoring broker, Dyer & Blair co-sponsoring broker while Ernest & Young is the reporting accountant. Vantage Communications are the marketing and PR consultants, CDSC Registrars Rwanda the registrar and processing agent, while RR Associates alongside Mboya and Wangong’u Associates are the legal advisors. Naibo said that following a meeting held last in March, BK’s transaction advisers completed due diligence processes and began the bank’s valuation. He added that BK expects the IPO to be fully subscribed and raise required capital to finance branch expansion and expand the bank’s lending portfolio. Ends

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BK names IPO transaction team