Crystal Ventures launches IPO of MTN Rwanda stake

22 May 2015

Rwandan investment firm Crystal Ventures has launched an initial public offering (IPO) of its 20% stake in domestic cellco MTN Rwandacell, held via its wholly-owned subsidiary Crystal Telecom, Reuters reports. The company is aiming to raise around USD40.6 million from the local bourse listing, which will run for two weeks until 5 June 2015, with the funds set to be invested in the energy sector. Jack Kayonga, executive chairman of Crystal Ventures, said: ‘We’re planning to raise about RWF28 billion (USD40.6 million) and everybody is eligible [to buy shares].’ MTN Rwanda will become the third company to be listed on the Rwanda Stock Exchange (RSE), which began trading in February 2011.

Rwanda, MTN Rwanda