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Orange CI share sale oversubscribed

3 Jan 2023

The Ivorian government has confirmed further details of the successful stock market listing of part of its stake in Orange Cote d’Ivoire (Orange CI) last month. The government offloaded a 9.95% interest in the telco, selling 14.99 million shares and raising XOF140.9 billion (USD222 million). It retains a 5% stake.

According to Ecofin, the sale was oversubscribed, with a subscription rate of 132%. Cote d’Ivoire nationals accounted for 94% of shares sold, with the remainder going to investors in the West African Economic and Monetary Union (UEMOA). Institutional investors represented 60% of the total amount raised. TeleGeography’s GlobalComms Database notes that Orange Group of France holds 72.52% of Orange CI.

Côte d'Ivoire, Orange Cote d'Ivoire

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