With 100% subscriptions at the end of the public offering, Oragroup is preparing the biggest introduction at the Bourse Régionale des Valeurs Mobilières (BRVM)
Lomé (Togo), December 19, 2018 - Pan-African banking group Oragroup announces the success of its initial public offering, after the closing of subscriptions that took place from October 29 to November 22, 2018. The public offering was 100% subscribed.
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. The shares are expected to be listed in the first quarter of 2019 in the first compartment of the Bourse Régionale des Valeurs Mobilières (BRVM), following the agreements of the Conseil régional de l’épargne publique et des marchés financiers (Regional Council for Public Savings and Financial Markets - CREPMF) and the BRVM. This will be the most important listing on the BRVM since its inception in 1998.
At the end of the transaction, 20% of Oragroup's share capital will be listed on the stock exchange (floating capital). The Group's other current shareholders will 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).
In 10 years, Oragroup’s growth trajectory has been exemplary. The Orabank network has grown from having a presence in five countries in West and Central Africa to a pan-African dimension with subsidiaries in 12 countries, spread across four currency areas. After winning the "best regional bank in West Africa" award in 2015 and 2017 (African Banker Awards), in May 2018, Oragroup obtained the Bloomfield agency’s A long-term investment and A2 short-term investment ratings, thus showcasing the strength and performance of the Group. On November 30, 2018, three Oragroup subsidiaries in Burkina Faso, Senegal and Togo won the "Bank of the Year Award” in their respective countries from The Banker magazine, published by the Financial Times Group.
Oragroup is present in 12 countries across West and Central Africa (Benin, Burkina Faso, Côte d’Ivoire, Gabon, Guinea Conakry, Guinea Bissau, Mali, Mauritania, Niger, Senegal, Chad, Togo) and in four Monetary Union areas (WAEMU, CEMAC, Guinea Conakry, Mauritania). With 139 bank branches and 1,811 employees, Oragroup proposes to its 430,000 customers (governments, institutions, NGOs, large national and international companies, SMEs and private individuals) a wide range of banking products and services based on proximity and responsiveness.
Working towards financial inclusion through the deployment of innovative solutions, Oragroup is also focusing on the less banked segments of the population. This commitment is reflected in its CSR approach, which is an integral part of its strategy and is a priority of its governing bodies, focused on anti money laundering, energy transition, the management of social and environmental risks, and the well-being of the general public and its employees.
For more information, please consult www.orabank.net or follow us on LinkedIn, @GroupeOrabank on Twitter, Facebook, Instagram, Google+, You Tube.
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