The pan-African banking group Oragroup (BRVM:ORGT) was listed on tuesday on the Bourse Régionale des Valeurs Mobilières (BRVM), during the listing ceremony held in Lomé. This listing - the most important since the creation of the BRVM in 1998 - follows the success of its 100% subscribed public offering of shares, from 29 October to 22 November 2018.
This public offering included the issuance of 6,097,561 new shares, through a capital increase, and the sale of 7,785,445 existing shares on the secondary market at a price of CFAF 4,100 per share, representing a CFAF 56.92 billion (€86 million) fundraising on the regional financial market. At present, 20% of Oragroup's capital is listed on the stock exchange (floating capital). 20% of Oragroup's share capital are now listed on the stock exchange (floating capital). The Group's other current shareholders retain 80% of the capital, including pan-African investor Emerging Capital Partners (ECP), which will remain the reference shareholder with more than 50% of the shares.
At the end of 2017, Oragroup had a balance sheet total of CFAF 1,794 billion (2.72 billion euros), representing a growth of 45 % since 2014. Deposits from customers throughout the Orabank network amounted to CFAF 1,179 billion (+42% over the same period) and credit operations to CFAF 1,085 billion (+38%). In total, the Group has a net banking income of CFAF 108 billion (164 million euros, +33 %) and a net income up sharply by 45% year-on-year, and 205 % since 2014 at CFAF 21.97 billion (33 million euros).
