, NAIROBI, Kenya Feb 12 – Equity Group Holdings has cross listed its 3.7 billion shares at the Rwanda Stock Exchange(RSE) as part of its regional development strategy.
The 3.7 billion shares are at a value of Sh0.50 per share.
With market capitalisation in excess of Sh183 billion, Equity becomes the largest listed company at the Rwandan bourse.
The Group has banking operations in five countries – Rwanda ,Kenya, Uganda, South Sudan and Tanzania – with an additional five non-banking subsidiaries across the region engaged in provision of investment banking, custodial, insurance agency, philanthropy, consulting and infrastructure services.
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,” Mwangi said.
Mwangi said 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.
“The purpose of cross listing is to facilitate the availability of shares to the wider East African market. This is in addition to the several efforts being made by the Group to localize the brand and customize services to better serve the people of Rwanda, “he added.
On his part RSE Chief Executive Officer Pierre Celestin Rwabukumba welcomed the Group to the Rwandan bourse and further confirmed that equities from the banking and financial sector are now the fastest growing securities across the region.