Cote d’Ivoire: Bridge Bank to Start Trading On BRVM Sept 24 After Oversubscribed IPO

Bridge Bank Group Côte d’Ivoire will begin trading on the BRVM on September 24 after its public share sale attracted CFAF 95.8 billion of orders for CFAF 67.5 billion of stock. The shares will trade under the ticker BBGC with a reference price of CFAF 6,750.

The offering covered 10 million existing shares, equal to 20% of the bank’s capital. Demand reached 142% of the amount available, creating CFAF 28.3 billion of excess subscriptions. The offer opened on July 20 and closed the following day…