Cross-listed firm, Equity Group Holdings, the holding firm of Equity Bank Rwanda, has ended months of inactivity, trading for the first time since February on Friday. According to Friday’s Rwanda Stock Exchange (RSE) market report, 1,000 shares of the regional financial services firm worth Rwf334,000 exchanged hands during Friday’s trading session. However, the shares traded at Rwf334 each, shedding Rwf96 compared to Rwf430 previously. Cross-listed stocks barely trade at the bourse, a challenge which traders have often attributed to the fact that most shareholders are not in the country to avail the stocks to potential Rwandan buyers. In Nairobi, Equity Group Holdings shares were trading at Ksh45.25 each (about Rwf305) yesterday, which is lower than the Kigali share price. This in fact presents Kenyan shareholders an opportunity to trade their shares at a profit on the RSE. Meanwhile, the Bank of Kigali counter closed at Rwf280 on Friday, down from Rwf290 each last Monday, while Bralirwa was at Rwf340, shedding Rwf9 compared to Rwf349 on Monday last week. The drop in share price affected the the RSE Share Index, which declined during the week, from 220.07 points the previous Monday to 213.98 points on Friday. ben.gasore@newtimes.co.rw
