A total of 14.2 million shares, with a unit value of 9,500 CFA francs, will be sold by the Bourse Regionale des Valeurs Mobilieres (BRVM, Regional Securities Exchange).
This was one of the main announcements at the end of a weekly cabinet meeting in the Ivorian capital Abidjan on Wednesday.
“The Council of Ministers adopted a decree authorizing the sale of a 9.95 percent stake held by the State in the capital of the company Orange Càte d’Ivoire,” Government Spokesman Amadou Coulibaly reported.
Of the 14.2 million shares sold through the Bourse Regionale des Valeurs Mobilieres (BRVM), 80 percent are reserved for Ivorian nationals.
According to the government, this operation aims to encourage Ivorians to take to a culture of investment in the financial markets and to promote access of national investors to savings through investments in the BRVM which is based in Abidjan.
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