Fina Bank, CFC to sell Safaricom shares

Fina Bank has teamed up with CFC financial services to handle Safaricom IPO investors in Rwanda. CFC Financial Services is a Kenya registered firm with experience in stock broking business in the region.

Fina Bank has teamed up with CFC financial services to handle Safaricom IPO investors in Rwanda. CFC Financial Services is a Kenya registered firm with experience in stock broking business in the region.

"The investors will be able to access the services throughout the Fina Bank branch net work in Rwanda," Patrick Nduati the head of trading and marketing at CFC financial services said.

Nduati who was speaking at the launch of Safaricom IPO added that in Kenya, this partnership will provide potential investors a lifetime opportunity to share in the region’s most profitable company.

The launch of safaricom IPO in Kigali becomes the second after Dyer and Blair launched the IPO two weeks back. Simon Karenzi, the managing director of Dyer and Blair Rwanda, said that a number of individual and institutional investors are rushing for safaricom shares.

"There is an improvement now. Many investors are coming up to buy and make enquiries," he said.

The Government of Kenya announced it is unloading 25 per cent of its stake in the company, hoping to raise Ksh50 billion ($735 million) by selling 10 billion shares at Kshs5.00 each.

Of the issued shares, 65 per cent are open to East African citizens while the remaining 35 percent will be sold to institutional foreign investors.

The Rwandan investors will be treated like other East African investors, where they will be allowed to purchase a share at Ksh5 (Frw45).

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