Oragroup officially listed on BRVM  

Wednesday, 17 April 2019 14:42
Oragroup officially listed on BRVM  

(Togo First) - On Tuesday, April 16, Oragroup officially listed 20% (13,883,006 shares) of its capital on the BRVM stock market. This is after getting approval from the financial markets and public saving regional council (CREPMF).

Oragroup was able to raise XOF56.92 billion, during a public offering conducted between Oct. 29 and Nov. 22 2018. An operation arranged by Sociétés de Gestion et d’Intermédiation (SGI), BICI Bourse (arranger and co-lead manager) and Hudson & Cie (co-lead manager also).

Oragroup’s listing affirms its status of major banking group reached only after about ten years of existence. This is a major moment in the financial history of both Togo and the sub-region,” said Togo’s minister of economy and finances, Sani Yaya.

However, according to experts, the group’s share could struggle before taking off. Indeed, based on the fact that the public offering had to be prolonged by a week, due to weak sales, actors of the regional stock market believe the share price, XOF4100, is overvalued.

Oragroup is present in 12 countries, across West and Central Africa and operates in four distinct monetary zones (WAEMU, CEMAC, Guinea Conakry and Mauritania) with 139 branches and 1811 employees.

Fiacre E. Kakpo

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