BK counter dominates trade

Bank of Kigali counter was bullish yesterday as it dominated trade at the bourse, a statement from the Rwanda Stock Exchange (RSE) indicates.

Bank of Kigali counter was bullish yesterday as it dominated trade at the bourse, a statement from the Rwanda Stock Exchange (RSE) indicates.

The commercial bank pushed 50,500 shares in four deals worth Rwf14.7 million. However, the counter shed Rwf3 during the past week to close at Rwf295 yesterday compared to Rwf298 on Monday last week.

The Bralirwa counter traded 3,800 shares in two deals valued at Rwf1.4 million, an improvement as the brewer did not transact any business the previous Monday.

The brewer’s counter closed at Rwf364 yesterday, down from Rwf369 on Monday last week.

No transactions were recorded by Kenya Commercial Bank and Nation Media Group counters, as well as Uchumi Supermarkets’ in spite of the retailer’s rights issue that started yesterday in Nairobi.

Trading in rights to Uchumi Supermarkets’ 99 million new shares will go on for 15 days before the window closes on November 18 this year.

Uchumi is offering 99,534,980 new shares at Ksh9 (Rwf69) each to raise about Ksh896 million (Rwf6.9 billion).

The money is expected to go into funding expansion.

Shareholders as at October 22 can renounce, abandon, sell or transfer all or part of their rights.

Market activity during the period will reflect interest in the retailer’s new stock as it seeks to raise the funds from existing shareholders. In all, the RSE Share Index went down by 2.86 points during the week to close at 228.85 points yesterday from 231.71 points last Monday.

ben.gasore@newtimes.co.rw

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