This archive report was first published on 4 June 2020.
On June 1, RH Bophelo, a South African medical firm, made history by becoming the first South African company to list on the Rwandan Stock Exchange (RSE). The cross-listing marks a significant milestone for the company, which has been operating in South Africa since listing on the Johannesburg Stock Exchange (JSE) in July 2017.
According to a statement by RH Bophelo, the move is expected to enable the diversification of its investor base and increase investment opportunities outside of South Africa. The company raised R500 million from its initial listing on the JSE and currently owns nine hospitals, with six being operated on behalf of smaller stand-alone hospitals.
Colin Clarke, RH Bophelo's executive director, stated that the next stage of evolution for the company involves growing its business beyond South Africa. The cross-listing on the RSE is strategic, as it provides RH Bophelo with the geographical exposure it needs to expand its reach.
The listing is also expected to have several benefits, including enhancing RH Bophelo's weighting in the respective market indices, increasing its public profile and awareness, and providing diversification and additional options for its capital raising activities.
The Rwandan Stock Exchange now has nine listed companies, including four Kenyan firms: Uchumi Supermarkets, Nation Media Group, Equity Group, and KCB Group.
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