Benin's National Lottery Company to List On BRVM in Historic IPO

18 September 2024
Daba Finance (Abidjan)

TLDR

  • LNB SA to become 2nd Beninese company listed on BRVM in October 2024 with significant financial growth projections.
  • Revenues set to increase from 80 billion FCFA in 2021 to 94 billion FCFA ($160 million) by 2024.
  • IPO offers shares priced at 4,000 to 5,000 FCFA, highlighting opportunity for investors to capitalize on company's growth.

The National Lottery of Benin SA (or Loterie Nationale du Bénin SA in French) is set to become the second Beninese company listed on the Bourse Régionale des Valeurs Mobilières (BRVM) in October 2024.

LNB SA's decision to list follows years of significant financial growth, with revenues projected to rise from 80 billion FCFA in 2021 to 94 billion FCFA ($160 million) by 2024. It operates over 3,000 points of sale across Benin and has emerged as a key player in West Africa's lottery sector.

The Initial Public Offering offers investors shares priced between 4,000 and 5,000 FCFA, providing an opportunity to benefit from the company's continued growth. The IPO is seen as a significant step in strengthening Benin's presence on the regional financial scene, positioning the company as a catalyst for economic development.

Key Takeaways

LNB SA's IPO is a milestone for Benin's financial market, enabling local companies to raise capital through regional exchanges. By listing on the BRVM, LNB SA opens doors for greater participation in West Africa's economic growth. Investors are presented with a unique opportunity to invest in a growing company within the high-potential lottery sector. This IPO signifies broader economic ambitions for Benin, contributing to regional development and encouraging future local business listings on the exchange.

Read the original article on Daba Finance.

Tagged:
Copyright © 2024 Daba Finance. All rights reserved. Distributed by AllAfrica Global Media (allAfrica.com). To contact the copyright holder directly for corrections — or for permission to republish or make other authorized use of this material, click here.

AllAfrica publishes around 500 reports a day from more than 100 news organizations and over 500 other institutions and individuals, representing a diversity of positions on every topic. We publish news and views ranging from vigorous opponents of governments to government publications and spokespersons. Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct.

Articles and commentaries that identify allAfrica.com as the publisher are produced or commissioned by AllAfrica. To address comments or complaints, please Contact us.