Equity Group lists on Rwanda Stock Exchange

NAIROBI: Equity Group shares started trading at the Rwanda Stock Exchange ((RSE) following its cross-listing.

The regional integrated financial services firm has listed for trade 3,702,777,020 issued ordinary shares on the bourse, at a par value of Rwf3.76 (Sh0.50) following the regulatory approval of the Capital Markets Authority of Rwanda.

At a market capitalisation in excess of $2 billion, Equity Group Holdings, becomes the largest listed company at the Rwandan bourse.

Equity Group Holdings Managing Director James Mwangi welcomed the bank's customers and partners in Rwanda to acquire the firm's shares and share in its success.

"This is a momentous occasion for Equity Group Holdings, as we invite and extend an opportunity to the local investors a chance to share in our success as part owners of East and Central Africa leading financial services provider," Dr. he said.

"The purpose of cross-listing is to facilitate the availability of shares to the wider East African market. The cross listing will provide an easy and efficient way for our stakeholders and partners in Rwanda to participate beneficially in the growth and fortunes of the Company through partial ownership," Mwangi added.

This (the cross listing), he stated, is in addition to the several efforts being made by the group to localise the brand and customise services to better serve the people of Rwanda.

Mwangi was speaking during a bell ringing ceremony, hosted as a curtain raiser to the ongoing two-day Capital Markets East Africa International 2015 conference.

The cross listing of the Equity Group Holdings counter on the Rwanda Stock Exchange, marks a major milestone for the firm which is seeking to enhance its integrated financial solutions delivery capacity.

The group currently has banking operations in Rwanda, Kenya, Uganda, South Sudan and Tanzania.