{{The Finance and Economic Planning minister John Rwangombwa has announced 274% over subscription for the recently launched Bank of Kigali Initial Public Offer (IPO).
\n}}<\/p>\n
The government sold its 45% stake in Bank of Kigali, the leading bank in the country by assets, for $62.5 million in an IPO.<\/p>\n
The shares were priced at Rwf 125 in the IPO in which the government was offloading 300.3 million shares.<\/p>\n
He further pointed out that over subscription is a good sign that shows people have confidence in the economy. \u201cThis shows that there\u2019s an appetite for assets in this economy,” the finance minister remarked.<\/p>\n
In this respect, all applicants totaled to 6,636 of shares including institutional and retail investors whereby 75% represent local applicants.<\/p>\n
Initially, BK had targeted to raise Rwf 37.5 billion but instead attracted submissions amounting to Rwf 103 billion which is rated at 274 %.<\/p>\n
The applications came from both local and international interested buyers, and according to Rwangombwa. \u201cA 40% pool was allocated to international investors, 15% to regional institutional buyers and another 15% to domestic institutional investors, 27.6% to retail investors while 2.4% was set aside for BK management,\u201d he remarked.<\/p>\n
The bank’s listing will follow that of brewer Bralirwa in which the government sold a 30% stake last year.<\/p>\n","protected":false},"excerpt":{"rendered":"
{{The Finance and Economic Planning minister John Rwangombwa has announced 274% over subscription for the recently launched Bank of Kigali Initial Public Offer (IPO). }} The government sold its 45% stake in Bank of Kigali, the leading bank in the country by assets, for $62.5 million in an IPO. The shares were priced at Rwf […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[90],"byline":[158],"hashtag":[],"class_list":["post-592","post","type-post","status-publish","format-standard","hentry","category-business","tag-a_doingbusiness","byline-b_igi_adm1n"],"bylines":[{"id":158,"name":"b_igi_adm1n","slug":"b_igi_adm1n","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":1}],"contributors":[{"id":158,"name":"b_igi_adm1n","slug":"b_igi_adm1n","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":1}],"featured_image":null,"_links":{"self":[{"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/posts\/592","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\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/comments?post=592"}],"version-history":[{"count":0,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/posts\/592\/revisions"}],"wp:attachment":[{"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/media?parent=592"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/categories?post=592"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/tags?post=592"},{"taxonomy":"byline","embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/byline?post=592"},{"taxonomy":"hashtag","embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/hashtag?post=592"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}