BK shares bounce back

Prices of shares in Bank of Kigali (BK) rose by Rwf6 to Rwf125, yesterday, after weeks of trading below the Initial Public Offer (IPO) price.

Prices of shares in Bank of Kigali (BK) rose by Rwf6 to Rwf125, yesterday, after weeks of trading below the Initial Public Offer (IPO) price.

BK shares have been trading at Rwf119 in previous trading sessions, Rwf6 below the IPO price.

According to Rwanda Stock Exchange (RSE) daily report, the bank’s shares traded and closed at Rwf125, up from Rwf119 on Monday.

“Bralirwa shares traded at Rwf320 and Rwf325 to close unchanged from yesterday’s closing price of Rwf325,” the report stated.

KCB shares last transacted at Rwf175 while NMG shares last transacted at Rwf1,200.

RSE market recorded a low turnover in yesterday’s trading session of Rwf7,960,000 from 30,000 BK shares and 13,000 Bralirwa shares which  traded in 5 deals compared to Monday’s trading session which recorded a turnover of 17,801,500 from 54,900 Bralirwa shares that traded in 2 deals.

At the end of formal trading hours, there were outstanding offers of 529,100 BK shares between Rwf124 and Rwf134 and no outstanding bids. 

On Bralirwa counter, there were outstanding bids of 20,000 shares at Rwf320 and 6,000 shares at Rwf318 and outstanding offers of 109,200 shares between Rwf330 and Rwf345.

saul.butera@newtimes.co.rw

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