A share will be sold for Rwf270 price, a 6.6% discount to the current traded share on the Stock Exchange sold at Rwf290 price. <\/p>\n
The launch of the share sale follows a recent Rights Issue by the Capital Market Authority and Rwanda Stock Exchange. <\/p>\n
\u201cThe BK Rights Issue, the first of its kind on Rwanda\u2019s Stock Market presents a unique opportunity for Shareholders, totaling to over 3,800, to invest more in BK Shares. Buy 1 Share at Rwf270 for every 3 held,\u201d said BK Group CEO, Dr. Diane Karusisi on Monday.<\/p>\n
\u201cThe Board and Management have decided to give priority to you the existing Shareholders to Share Our Success. You now have the opportunity to up your stake in BK Group PLC,\u201d added Dr. Karusisi.<\/p>\n
Karusisi said that the shares that will not have got subscriptions by November 9 will be taken to Nairobi Securities Exchange \u201cin a bid to extend our market share and approach and attract other investors.\u201d<\/p>\n
Dr. Karusisi said BK Group will officially cross-list on the Nairobi Securities Exchange after they have learnt that some of their shareholders won\u2019t invest in BK Group PLC again.<\/p>\n
The shareholders include the Government of Rwanda which was usually the biggest shareholder. However, Rwanda Social Security Board (RSSB), another major shareholder will increase its shares in BK Group PLC.<\/p>\n
BK Group PLC first listed its IPO on the Rwanda Stock Exchange Market in 2011 and since then it has seen a \u2018phenomenal growth\u2019.<\/p>\n
Dr. Diane Karusisi said that \u201cWith a minimum share subscription of 100 shares, each selling at Rwf125, the BK IPO then generated Rwf37.5 billion from 300.3 million shares. This was indeed phenomenal!\u201d<\/p>\n
The money yielded in the bought shares contributed to growing the Bank\u2019s activities, and enabled the Bank to finance big projects that include the finishing of construction of Kigali Centre and Marriot Hotel buildings.<\/p>\n
The Executive Director of Rwanda Capital Market Authority, Eric Bundugu said that the Rights Issue Launch is a good step for the Bank of Kigali and for the economy of Rwanda.
\nHe said that the fact that BK Group Plc has listed its Initial Public Offering (IPO) on the Nairobi Securities Exchange because the Bank \u201ctrusts its management which also pushed it to unveil it to other investors.\u201d<\/p>\n
The Chairperson of the Private Sector Federation, Robert Bapfakurera said Bank of Kigali should be emulated by other financial institutions in Rwanda. <\/p>\n
As of December 2017, BK Group PLC\u2019s fixed assets were Rwf10.5 billion.<\/p>\n","protected":false},"excerpt":{"rendered":"
Bank of Kigali (BK) Group PLC has today released over 222 million shares for sale expected to raise Rwf60 billion in capital during a 12-day trading period.<\/p>\n","protected":false},"author":8,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[69],"byline":[170],"hashtag":[],"class_list":["post-38423","post","type-post","status-publish","format-standard","hentry","category-news","tag-homehighlights","byline-igihe"],"bylines":[{"id":170,"name":"IGIHE","slug":"igihe","description":"","image":{"id":0,"url":"https:\/\/secure.gravatar.com\/avatar\/?s=96&d=mm&f=y&r=g","alt":"Default avatar","title":"Default avatar","caption":"","mime_type":"image\/jpeg","sizes":[]},"user_id":8}],"contributors":[{"id":170,"name":"IGIHE","slug":"igihe","description":"","image":{"id":0,"url":"https:\/\/secure.gravatar.com\/avatar\/?s=96&d=mm&f=y&r=g","alt":"Default avatar","title":"Default avatar","caption":"","mime_type":"image\/jpeg","sizes":[]},"user_id":8}],"featured_image":null,"_links":{"self":[{"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/posts\/38423","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/comments?post=38423"}],"version-history":[{"count":0,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/posts\/38423\/revisions"}],"wp:attachment":[{"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/media?parent=38423"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/categories?post=38423"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/tags?post=38423"},{"taxonomy":"byline","embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/byline?post=38423"},{"taxonomy":"hashtag","embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/hashtag?post=38423"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}