Friday, 24 February 2012

Mali's Telecom company to list shares on West African Exchange-Reuters

Shares in Mali telecoms company Sotelma will go on sale in April and start trading on the Abidjan-based West African regional bourse by the end of June, the head of the BRVM exchange said on Thursday.
Jean-Paul Gillet said Sotelma hoped to raise 100 billion CFA francs ($201.9 million) in the listing, which he said would involve 20 percent of the firm being sold to the public with another 9 percent reserved for staff.
Gillet said Sotelma was expected to list shares with a unit price of 10,000 CFA.
The operation is expected to create the bourse's third largest company by market capitalisation after Senegal's Sonatel and pan-African bank Ecobank Transnational Inc, he added.
Sotelma was one of four listings expected this year on an exchange that hosts nearly 40 companies, including some from Senegal, Guinea Bissau, Mali, Burkina Faso, Niger, Benin, Togo and Ivory Coast.
Source:Reuters February 24, 2012

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