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(Togo First) - Oragroup, the Pan-African banking group based in Lomé just announced that the public offering it launched last October was fully subscribed.

 

Through the operation which began on October 29 and closed November 22, the group opened 20% of its capital to the public. In detail, it issued 6,097,561 new shares through a capital increase, and sold 7,785,445 existing shares, at a unit price of CFA4100, on the secondary market.

The 20% of the shareholding will be floating and the remaining 80% will be kept by the group’s other shareholders, with Emerging Capital Partners (ECP) remaining the major shareholder (50%).

 

Once listed on the BRVM, Oragroup would have made the stock market’s biggest listing ever. According to Oragroup, the listing should occur during the first quarter of 2019, after it is approved by the regional board for public savings and financial markets (CREPMF) and the BRVM itself.

 

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