Lomé-based Oragroup increased its capital to XOF69.415 billion

Thursday, 04 July 2019 14:52
Lomé-based Oragroup increased its capital to XOF69.415 billion

(Togo First) - Pan-African banking group Oragroup recently raised its capital to XOF69.415 billion, thus adding XOF6.097 billion to its initial capital. The new capital, the group indicates, is divided into 69,415,031 shares with a nominal value of XOF1000 per share.

From October 29 to November 22, 2018, the Lomé-based group had proceeded to an Initial Public Offering issuing 6,097,561 new shares and selling 7,785,445 existing shares at XOF4100 per share.

In the process, it raised on the regional financial market XOF56.92 billion. The operation was fully subscribed and this was the largest IPO ever recorded on the stock market.

According to Binta Touré Ndoye, former managing director of the group, “the fundraising will help us invest in digital banking, seize opportunities to expand in Central Africa, and boost the Group’s reputation among the people and the financial community, as well as boost equity of some subsidiaries.”

Séna Akoda

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