Written by Wesley Cate on April 20, 2015
Rwanda's six-company stock exchanged doubled its value by cross-listing Kenya's Equity Bank. With a market cap over $2 billion, the bank is now the largest company listed on the exchange.
“Cross-listing is important because it gives Rwandans an opportunity to participate in the progress of their bank,” Robert Mathu, chief executive of Rwanda’s capital markets authority, told the Financial Times. “It’s a sign of integration within east African markets – a lot of progress has already been made.”
According to the New Times, Rwanda Stock Exchange (RSE) chief executive Pierre Celestin Rwabukumba said the listing confirms that equities from the banking and financial sector are now the fastest growing securities across the region.
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