Oragroup to get listed next April 16

Finance
Thursday, 04 April 2019 17:43
Oragroup to get listed next April 16

(Togo First) - Oragroup will be listed on the Bourse Régionale des Valeurs Mobilières (BRVM) next April 16. The bank indeed received the approval of the regional council or public savings and financial markets (CREPMF) for the operation.

The listing, which covers 20% of the lender’s capital (floating) will take place a few months after its IPO which occured between October and November 2018.

The IPO, it should be recalled was fully subscribed and helped raise more than XOF56 billion; it actually is the largest IPO ever recorded on the BRVM.

Out of the remaining 80% of the capital, more than 50% are held by Emerging Capital Partners (ECP).

At the end of 2017, the total balance sheet of Orabank expanded 45%, from 2014, standing at €2.72 billion (XOF1,794 billion). Over the same period, its net banking product rose by 33%, to reach €164 million (XOF108 billion).

The holding let’s recall is present in 12 countries, in both West and Central Africa, and has its headquarters in Togo. With more than 139 agencies and 1,811 workers, it operates in four distinct monetary zones (WAEMU, CEMAC, Guinea and Mauritania).

Ayi Renaud Dossavi

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