The
bank will issue 222,222,222 new shares to its shareholders at a ratio
of one share for every three held, according to Renaissance Capital, the
lead transaction advisor.
The shares will cost Rwf270 ($0.31) per share.
The
stock will trade on the Rwanda Stock Exchange on November 30 and
cross-list on Kenya's Nairobi Securities Exchange on the same day.
The Rwanda government holds over 29 per cent stake while Rwanda Social Security Board holds over 25 per cent.
The bank, Rwanda’s largest by assets, made a net profit of Rwf23.3 billion ($27.3 million) in 2017.
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