The impending initial public offer (IPO) of Crystal Ventures Limited’s 20 per cent stake in MTN Rwanda has invigorated activity at stock exchange, dealers and sector experts have said.
“When it happens, in the coming months, it will be a boom to investors as we have not had an IPO in the past two years,” said Shehzad Noordally, the general manager of CDH Capital, a brokerage firm at the Rwanda Stock Exchange.
Crystal Ventures is Rwanda Patriotic Front’s investment arm that was established in 2009.
Apart from the 20 per cent stake in MTN Rwanda, the firm has interests in real estate, construction and civil works, telecoms, security services, media, building materials and furniture.
Jean Aime Habimana, a broker with Standard Bank Group Securities in Kigali, said if the shares are floated on the stock, they would perform well “considering how it’s the leading telecom company in the country.