Bralirwa’s shares record Rwf8b turnover on RSE

The Rwanda Stock Exchange (RSE) is more active following the listing of the Bralirwa’s shares. The market recorded a total turnover of Rwf8b out of 42.4 million shares traded in 702 deals as of July 25, 2011, according to official statistics, published in the central bank’s monetary policy and financial stability statement. Bralirwa became the first local company to list its shares on the Rwandan bourse on January 31, 2011. Bank of Kigali is set to become the second local listing after its Initial Public Offering (IPO) was oversubscribed by 274 per cent. Celestine Rwabukumba, the Operations Manager of Capital Markets Advisory Council (CMAC) said that investors are closely watching the market. “With most of the bank’s subscribers being Rwandans, speculators/investors are watching the market closely because they didn’t get enough shares and they will be rushing to buy more shares on the secondary market,” he noted, adding that the turnover is expected to be strong, driving BK’s counter higher. In real terms, he noted, it is still too early to tell what will happen on the secondary market. The RSE also cross-lists Nation Media Group and KCB Group, which all have their main listings on the Nairobi Stock Exchange (NSE). “There was little activity in the trading of cross-listed securities. The RSE is addressing the problem of cross-border trading by looking into ways of automating the handling of cross-border transactions,” the central bank stated. The bond was illiquid throughout the period under review as no transactions were recorded. The statement said that from January to July this year, one treasury bond worth Rwf5b matured while another one valued at Rwf3.5b was listed. The stock exchange lists five treasury bonds worth Rwf13.5b and one BCR corporate bond, which has a face value of Rwf1b. Ends

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Bralirwa’s shares record Rwf8b turnover on RSE