Bank of Africa Plans Mali's First Listing on Regional Exchange
- Bamako-based lender seeks to raise about $15m in capital
- Bourse expects at least two new listings next year, GM says
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Groupe Bank of Africa’s Mali unit plans an initial public offering on the regional bourse which would make it the first company from the West African nation to be listed on the Abidjan-based exchange.
The lender, a subsidiary of Morocco’s BMCE Bank Group, will offer 400,000 shares on the Bourse Regionale des Valeurs Mobilieres from Dec. 17 to Jan. 15, it said in a statement published on Tuesday in the state-owned Ivorian newspaper Fraternite Matin. It aims to raise as much as 8.79 billion CFA Francs ($14.7 million).