03 February 2023
Following the successful sale by Côte d’Ivoire of 9.95% of its 14.95% stake in Orange Côte d’Ivoire on the regional stock exchange (BRVM), the MNO has officially entered the stock exchange. The listing ceremony under the symbol ORAC was held on 30 December.
In total, the Ivorian state put up for sale 14,990,207 shares through its 9.95% share and mobilized a total sum of 140.9 billion CFA francs.
Institutional investors participated up to 60% of the total amount raised, nearly 84 billion CFA francs. More than 51 billion CFA francs, or 36% of the amount raised, was contributed by individuals, including private sector employees. The other investors subscribed for approximately 3.4 billion CFA francs, or 2% of the amount raised.
Undertakings for collective investment in transferable securities (UCITS) participated in just over 1.7 billion CFA francs, or 1% of the amount, while subscriptions by management and intermediation companies acting for themselves represent 0.04%.
94% of the amount raised was subscribed in Côte d’Ivoire against 6% for the rest of the West African Economic and Monetary Union (UEMOA).