Login to your account

Username *
Password *
Remember Me

Ivory Coast's NSIA Banque IPO-NSIA.CI will launch an initial public offering (IPO) of stock on Monday ahead of a planned listing on West Africa's regional BRVM bourse in the first week of September, company officials said on Tuesday.

 

The bank, formerly called BIAO-CI, is part of the NSIA financial group, which owns another bank in Guinea and is a leading insurance provider in 12 countries across West and Central Africa.

Stock worth 34.53 billion CFA francs ($58.77 million) will be sold at 9,000 CFA francs per share to private investors and at 6,750 CFA francs per share to bank employees from July 3 to 13, with a possible early closure of the IPO. Some 4,011,500 shares will be sold.

 

Jean Kacou Diagou, chairman of NSIA Group, told reporters at a news conference in Abidjan that the bank was looking to expand.

 

"We want to buy banks in other African countries to sell financial products," he said.

 

NSIA Banque recorded a net profit of 17.12 billion CFA francs last year, up from 14.29 billion CFA francs in 2015, its managing director Philippe Attobra said.

 

We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Use.