BIIC Bénin Gains 6.7% on Debut After $173M IPO on BRVM
TLDR
- Shares of Benin’s BIIC Bénin rose 6.7% on their trading debut Monday
- The listing follows a successful XOF 105 billion ($173 million) initial public offering
- BIIC Bénin, which trades under the symbol BICB, is now the sixth most valuable listed company
Shares of Benin’s International Bank for Industry and Commerce (BIIC Bénin) rose 6.7% on their trading debut Monday, closing at XOF 5,600 on the Bourse Régionale des Valeurs Mobilières (BRVM) in Abidjan. The listing follows a successful XOF 105 billion ($173 million) initial public offering.
BIIC Bénin, which trades under the symbol BICB, is now the sixth most valuable listed company on the BRVM, with a market capitalization of XOF 323 billion, accounting for roughly 2.93% of the exchange’s total equity value.
The stock was listed on April 28, 2025, and opened strong as investors reacted to strong demand for shares in the state-controlled bank. The listing expands the financial sector’s footprint on the regional exchange and marks one of the largest IPOs on the BRVM in recent years.
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Key Takeaways
BIIC Bénin’s IPO adds momentum to the BRVM’s efforts to deepen liquidity and attract new issuers. The $173 million offering is the second-largest on the exchange after Orange Côte d’Ivoire in 2022, signaling strong investor appetite for financial sector listings. The BRVM, which serves eight West African nations using the CFA franc, has seen rising retail participation in recent years, helped by mobile-first investing platforms and increased access to market data. BIIC’s addition boosts Benin’s representation on the exchange and aligns with government efforts to privatize and modernize state assets. The bank’s debut also comes as regional banks are increasingly viewed as defensive plays amid global uncertainty, supported by consistent dividends and robust fundamentals. For investors, BIIC offers a foothold in one of West Africa’s more stable banking markets, with potential upside as Benin’s financial services sector continues to formalize and expand.
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