Rwanda Government has today officially opened doors for investors to buy the 5 year treasury bond worth Rwf15billion.
The books opened this morning 19th February 2018, and will be on sale for the next three days, which will be followed by a settlement date on February 23rd and listing on the Rwanda stock exchange (RSE) on February 27th.
Last week, at least 10 local organizations drawn from different sectors such as manufacturing, agri-business and ICT; formally registered for listing on the newly established SMEs stocks forum.
These could soon see the rise in the value of their invested money as government plans to roll out a second 10-year treasury bond in May this year.
Since 2008 government has tabled 23 treasury bonds ranging from two to seven years, worth over Rwf213.5 billion (minus the Eurobond) and collected Rwf211.7 billion of which Rwf17 billion remain unpaid.
RSE statistics show the Market capitalization stands at $3.3 billion or 40% of Rwanda’s Gross domestic Product (GDP) and over Rwf500 billion exchanged hands through the market either in debt instruments or shares and at least 17000 investors have been solicited in the period since the established of RSE ten years ago.
In the meantime, the local bourse stock all shares indices went down 0.32 and 0.05 points to close at 133.21 and 133.17 respectively, despite a good performance on the bank of Kigali counter which saw its shares shot by ten francs at to sell at Rwf300 as last week Friday.
I&M Bank Rwanda shares faced the hardest hit to drop by two francs as the counter closed at Rwf95 (Rwf97 previous) with a trading session recording a total turnover of Rwf2, 232,500 from 23,500 shares traded in 1 deal.