April 16, 2019: Pan-African banking group Oragroup was listed on the Bourse Régionale des Valeurs Mobilières (BRVM) during a listing ceremony in Lomé. The listing – the largest since the creation of the BRVM in 1998 – follows 100% subscribed public offering of shares from October 29, to November 22, 2018.
This public offering included the issuance of 6,097,561 new shares, through a capital increase, and the sale of 7,785,445 existing shares on the secondary market at a price of CFAF 4,100 per share, representing a CFAF 56.92 billion (€86 million) fundraising on the regional financial market. At present, 20% of Oragroup’s capital is listed on the stock exchange (floating capital). Pan-African investor Emerging Capital Partners (ECP) remains a key remaining shareholder.
“ECP and Oragroup today demonstrate that African finance is developing, that it exists to fund our economies and that we are witnessing the emergence of an authentic Afrocapitalism, capable of intensifying and accelerating the continent’s growth, and its profound and sustainable transformation for the wider benefit of the populations. ECP’s strategy is to create value in each of its investments by bringing company activities up to international standards to support the emergence of regional champions over time,” explains Vincent Le Guennou, Chairman of the Board of Directors of Oragroup and Co-CEO of Emerging Capital Partners.
See links to articles from Jeune Afrique, AllAfrica et La Tribune Afrique.
