Regis Rugemanshuro, director-general of Cimerwa Plc, said that going to the stock market is an opportunity for investors who want to invest in the company.
He said Cimerwa’s ambitions to become a major factory would not be achieved without going to the stock market.
The Executive director of Rwanda Development Board, Clare Akamanzi, said Cimerwa is a good example of a company committed to promoting the ’Made in Rwanda’ program.
She said other Rwandan companies should learn from Cimerwa, and go to the stock market to expand.
Cimerwa Plc has a total of 703,219,520 shares, of which 344,575,560 shares (49%) are floated..
A 49% stake in Cimerwa will be put on the market owned by the Agaciro Development Fund representing the Government of Rwanda, the Rwanda Social Security Board (RSSB), Rwanda Investment Group (RIG), and Sonarwa Holdings Ltd.
Cimerwa has put the shares on the market when it needs to provide cement to build 22,000 classrooms across the country in less than three months.
When the company goes to the stock market, it’s given a tax holiday on capital gains for five years, which varies depending on the shares sold and can reach 20%.
There are currently nine companies on the Rwandan stock market; Crystal Telecom, Bralirwa, Uchumi Super Market Ltd, National Media Group, Bank of Kigali, Kenya Commercial Bank (KCB), Equity Bank Group Ltd, I&M Bank Rwanda, and RH Bophelo Limited recently joined.