I&M Bank of Rwanda is launching its IPO on the RSE (Rwanda Stock Exchange), with an anticipated list date of March 31, 2017. The prospectus has been distributed here. This post endeavors to provide you with a brief overview of this opportunity to invest.
The objective is to raise approximately $10.8mm through the public offering, selling the Government of Rwanda’s stake in the bank which represents approximately 20% of the issued share capital of the bank. The government will be using the proceeds to help with the construction of its international airport. 40% of the shares are available for foreign investors, 15% are for QII in Rwanda, 15% are for QII in East Africa, 5% is for employees of the bank, and 25% is for retail in East Africa.