Business
Japan’s SBI Holdings buys into into Rwanda bank IPO
Thursday, September 15, 2011
A fund ran by Japan’s SBI Holdings Inc. and Abu Dhabi’s Invest AD said on Thursday it bought into the initial public offering of Bank of Kigali, Rwanda’s largest bank by assets.
Its entry into the US$75 million IPO, which was completed last month and was the second listing on Rwanda’s bourse, is the first deployment from the US$75 million Invest AD Emerging Africa Fund.
“Because of strong economic growth, Africa has a very interesting IPO pipeline,” David Sanders, Invest AD’s chief investment officer, said in a statement.