The Ivorian government is selling a 9.95% stake in the local Orange unit through a public offering, which will run from December 5 to 19, 2022. 14.99 million shares will be sold on the Regional Stock Exchange from West Africa (Regional Mobile Stock Exchange, BRVM).
Of these, 750,000 shares will be exclusively available to Orange CI employees at a price of 7,600 FCFA (12.13 USD), while the remaining 14.24 million shares will be available to the general public for 9,500 FCFA per share.
While the state will retain a 5% stake in the landline and mobile provider, it hopes to generate US$222 million from the sale. This is expected to stimulate public interest in investments to boost the regional stock market and even the economy of Cote d’Ivoire.