BOA Senegal launches IPO on the BRVM

Oct 24, 2014

Bank of Africa (BOA) Senegal launched on Thursday, October 22nd - and for a one-month period - an Initial Public Offering (IPO) of 200,000 shares on the stock exchange of the WAEMU (BRVM).

Bank of Africa (BOA) Senegal launched on Thursday, October 23nd - and for a one-month period - an Initial Public Offering (IPO) of 200,000 shares on the stock exchange of the WAEMU (BRVM).

This operation aims to increase the share capital of the Bank from CFAF10 billion (€15.2 million) to CFAF12 billion, Koaci reports.

BOA said the goal is to strengthen the financial resources of the bank to further its development and to improve the reputation of the bank.

It is also designed to improve and consolidate the prudential ratios enacted in banking regulations, as well as the liquidity of the securities from the IPO, and to increase the value
of
the company and its shares .

This operation follows the decision of the Bank of Africa Burkina Faso to undertake a capital increase from CFAF10 to CFAF11 billion.ADNFCR-2976-ID-801756246-ADNFCR