February 11, 2011
First Rwandan IPO: Beer
Not a bad place to start. The sale of 25% of the brewery Bralirwa marks the first IPO in Rwanda. Bralirwa is 75% owned by Heineken and holds "94% of the Rwanda beer market. It is also a licensed Coca-Cola bottler and has a virtual monopoly of the the local sparkling drinks market. It is also licensed by Diageo to brew Guinness."
Assuming a good number of people in Rwanda like beer, Coke, and sparkling drinks, this seems like a very wise place to start with IPOs. With $29.5m raised and an offering that was about three times oversubscribed, I'd say I'm not alone in that opinion.