The government of Cote d’Ivoire is launching its sale of shares in fixed and mobile operator Orange Cote d’Ivoire (Orange CI) at the start of next week. The state is selling off a 9.95% stake via a public offer which will run between 5 December and 19 December. It will retain a 5% interest in the telco.
Ecofin reports that 14.99 million shares will be sold on West Africa’s Regional Stock Exchange (Bourse Regionale des Valeurs Mobilieres, BRVM); 750,000 shares are reserved for Orange CI employees at a unit price of XOF7,600 (USD12.13), with the remaining 14.24 million open to the public and priced at XOF9,500 per share. The state is hoping to raise around USD222 million from the sale, which it says will encourage investment among the general public, while contributing to the development of the regional stock market and the national economy.