Equity Group acquires shares in ProCredit Bank

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Equity Group acquires shares in ProCredit Bank

The Equity Group Holdings Ltd has announced the acquisition of 79% stake in ProCredit Bank Congo S.A after obtaining all regulatory approvals in line with the acquisition which was penned down on September 29.

“In accordance with the share purchase agreement, signed between the sellers and Equity Group, the former agreed to be issued with 70, 897,782 shares in the Equity Group and ProCredit Bank DRC is now a subsidiary of Equity Group” the shareholders said in a statement released by Mary Wangari Wamae, the Equity Group company secretary.

In the meantime, the Rwanda stock market index and all shares indexes remained constant to close at 185.95 and 135.46 respectively.

The Crystal telecom counter was quiet today and closed at Frw 112. The last trading session recorded a total turnover of Frw 291,200 from 2,600 shares traded in 2 deals.

The Bank of Kigali counter closed at Frw 280 (Frw 280 previous). The trading session recorded a total turnover of Frw 41,188,000 from 147,100 shares traded in 3 deals.

Bralirwa counter was quiet today and closed at Frw 273. The last trading session recorded a total turnover of Frw 1,965,600 from 7,200 shares traded once.

While the KCB counter was quiet today and closed at Frw 330 as the last trading session recorded a total turnover of Frw 198,000 from 600 shares traded once.

Equity, NMG and USL counters were quiet today and closed at Frw 334, Frw 1,200 and Frw 104 respectively.

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Olive Ndaka is the Junior Editor for RwandaEye. An investor and young entrepreneur, she is a quick learner and has contributed many articles for RwandaEye in Kinyarwanda.

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