Cote d’Ivoire’s government is divesting a 9.95% stake in Orange’s local unit via a public offering, set to run between 5th and 19th December 2022.
While the state will retain a 5% holding in the fixed and mobile provider, Ecofin reports that 14.99 million shares will be sold on West Africa’s Regional Stock Exchange (Bourse Regionale des Valeurs Mobilieres, BRVM).
Of these, 750,000 shares will be exclusively available to Orange CI employees for a share price of XOF7,600 (US$12.13), while the remaining 14.24 million shares will be available to the general public for XOF9,500 per share.
CommsUpdate reports that the state hopes to generate US$222 million from the sale, which it hopes will boost public interest in investment to boost the regional stock market and indeed Cote d’Ivoire’s economy.
