Bank of Kigali shares start trading on Nairobi bourse

Friday November 30 2018

NSE

The Bank of Kigali Group has successfully completed the sale of Sh7 billion rights paving the way for its cross-listing on the Nairobi Securities Exchange (NSE) on November 30. PHOTO | FILE 

BUSINESS DAILY
By BUSINESS DAILY
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Shares of Rwanda’s largest lender by assets, Bank of Kigali (BK) Group Plc, started trading on the Nairobi Securities Exchange (NSE) on Friday.

It becomes the second company to cross-list on the Nairobi bourse after Uganda’s Umeme in December 2012.

The BK Group’s shares, whose primary listing is Rwanda Stock Exchange, started trading at a reserve price of Sh30.

The highest bid price for the BK Group shares by 11.30am was Sh32 per unit, a trader said.

The listing followed a recent successful rights issue at the ratio of three shares for every one held, a cash call that raised Sh7 billion.

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