BGFI Holding Corporation (BHC) announced on Monday, July 28, 2025, the postponement of its planned listing on the Central African Stock Exchange (BVMAC), citing legal actions initiated by a group of shareholders opposing the move.
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These shareholders argue that recent changes in the group’s leadership — including the appointment of Henri-Claude Oyima as Minister of State and the arrival of a new executive team — require a period of stability before any stock market operation can proceed.
In an official statement, the group explained: “In order to ensure a calm and constructive environment for all stakeholders, the Board of Directors, in agreement with the Central African financial markets regulator (COSUMAF), has decided to wait for the outcome of legal proceedings brought before the Libreville Commercial Court before continuing with the regulatory and legal steps required for the listing.”
One of the main opponents is Christian Kerangall, a long-standing shareholder who holds 23% of BGFI’s capital.
Originally scheduled for July 15 and later pushed to July 31, the IPO was to involve the sale of 1,573,536 shares — representing 10% of BGFI Holding’s share capital — on the BVMAC in Douala, Cameroon. The aim was to strengthen the group’s equity base by 125.8 billion FCFA (approximately $222 million).
BGFIBank has stated that a new timeline for the listing will be announced once the legal dispute is resolved.
