20 September 2012

Rwanda: Bralirwa Shares Rise On Strong Demand

Bralirwa shares rose substantially on the Rwanda Stock Exchange (RSE), hitting a record high of Rwf411 during yesterday's trading session with the market maintaining stability.

According to figures from RSE the total turnover of the day was Rwf18, 007,500 from 131,500 BK shares as well as 1,100 Bralirwa shares and 3,000 KCB shares that were traded in seven deals. The volumes traded yesterday compares with a turnover of Rwf7, 595,000 from 33,500 BK shares and 8,000 Bralirwa shares that were traded in four deals on Wednesday.

Celestine Rwabukumba, the Coordinator of RSE, said the shares in Rwanda's largest beer marker, Bralirwa, were being driven by demand because of the company's health financial performance.

"For Bralirwa what we are observing is...there's a lot of demand because of the announced health results," he said

For BK shares, he said, they were rising because;"We don't have desperate seller (the ones who speculate during IPOs)."

BK shares traded and closed at Rwf130, unchanged from Wednesday's closing price while Bralirwa shares traded between Rwf395 and Rwf411 and closed at Rwf411, an increase of Rwf6 compared. KCB shares traded at Rwf154, unchanged from Wednesday's closing price. NMG shares last transacted at Rwf1,200.

At the end of formal trading hours, there was an outstanding bid of 1,400,000 BK shares at Rwf130 and outstanding offers of 180,800 shares between Rwf131 and Rwf132. On Bralirwa counter, there were outstanding bids of 276,600 shares between Rwf374 and Rwf408 and no outstanding offers and there was an outstanding bid of 3,000 KCB shares at Rwf154.

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