BOA Mali Leads Weekly Gains Amid Capital Increase Process
TLDR
- BRVM-listed Bank of Africa Mali (BOAM) share price surged by 22.68% to 1,650 FCFA, attracting renewed investor interest through a capital increase process.
- BOAM's increase included the issuance of one new share for every two old ones, listed on the BRVM excluding allocation rights at 675 FCFA.
- BOA Burkina Faso (BOABF) experienced significant gains, with its share price rising by 17.65% to 4,000 FCFA, involving a capital increase through reserves at a ratio of one new share per old one, listed at 3,400 FCFA.
After two weeks of decline, the BRVM-listed Bank of Africa Mali (BOAM) saw its share price surge by 22.68% to 1,650 FCFA ($3), attracting renewed investor interest as part of its capital increase process.
This increase, achieved through the incorporation of reserves and premiums, resulted in the issuance of one new share for every two old ones. Consequently, the share was listed on the stock market excluding allocation rights at 675 FCFA, calculated from the previous closing price of 2,020 FCFA.
BOA Burkina Faso (BOABF) also saw significant gains, with its share price rising by 17.65% to 4,000 FCFA, making it the second-highest increase of the week. Its capital increase involved incorporating reserves at a ratio of one new share for every old one, leading to a share listing excluding allocation rights at 3,400 FCFA, based on the previous session’s price of 6,800 FCFA.
Key Takeaways
The week saw strong performances from several key stocks, led by BOA Mali and BOA Burkina Faso, both of which benefited from capital increase processes that boosted investor confidence. The strategic moves by these banks, involving the issuance of new shares through the incorporation of reserves, have positioned them at the forefront of market gains. Additionally, significant rises in the shares of Servair Abidjan (+16.46% to 2,795 FCFA), Unilever (+15.09% to 6,405 FCFA), and Bernabé (+14.83% to 1,355 FCFA) underscore a broader positive sentiment among investors, highlighting the resilience and potential for growth in the West African market despite recent volatility.
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