SOTELMA to launch on BRVM by mid-2012

24 Feb 2012

Malian fixed line incumbent Societe des Telecommunications du Mali (SOTELMA) is expected to begin trading on the Abidjan-based West African regional bourse by the end of June 2012, following a share sale to be conducted in April this year, Reuters claims. Jean-Paul Gillet, head of the Bourse Regionale des Valeurs Mobilieres (BRVM), the regional stock exchange serving the west African countries of Benin, Burkina Faso, Guinea Bissau, Cote d’Ivoire, Mali, Niger, Senegal and Togo, said that SOTELMA hopes to raise around XAF100 billion (USD198 million) from the listing, which will see around 20% of the telco sold into public hands, with a further 9% reserved for staff.