Bridge Bank to Start Trading on BRVM Sept 24 After Oversubscribed IPO

BREAKING NEWSSeptember 22, 2026 at 9:35 AM UTC

TLDR

Bridge Bank Group Côte d’Ivoire will start trading on BRVM on September 24 with ticker BBGC and opening price of CFAF 6,750.
The public share sale received orders worth CFAF 95.8 billion, surpassing the CFAF 67.5 billion stocks available for sale.
The listing implies a market value of CFAF 337.5 billion, with Bridge Group West Africa retaining the majority ownership.

Bridge Bank Group Côte d’Ivoire will begin trading on the BRVM on September 24 after its public share sale attracted CFAF 95.8 billion of orders for CFAF 67.5 billion of stock. The shares will trade under the ticker BBGC with a reference price of CFAF 6,750.

The offering covered 10 million existing shares, equal to 20% of the bank’s capital. Demand reached 142% of the amount available, creating CFAF 28.3 billion of excess subscriptions. The offer opened on July 20 and closed the following day instead of August 6. About 17,544 investors participated, with individuals accounting for 58% of subscriptions.

The listing will give Bridge Bank an implied market value of CFAF 337.5 billion at the reference price. Its first trading price will be determined by matching buy and sell orders. Bridge Group West Africa, part of Teyliom Group, will retain 57% after the transaction, while Côte d’Ivoire’s CNPS will keep 20%. Public investors will own 20% and other shareholders 3%.

Bridge Bank will become the 16th bank and 48th company listed on the regional exchange. Founded in 2006, the lender operates in Côte d’Ivoire and Senegal and plans to establish operations in Guinea and Burkina Faso as part of its regional expansion.

The transaction was a sale of existing shares rather than an issue of new equity, meaning it does not inject new capital into the bank. The stated objectives include widening the shareholder base, increasing institutional ownership and giving Bridge Bank more visibility and access to regional capital markets.

Key Takeaways

Bridge Bank’s listing adds another banking stock to a BRVM market where financial companies already account for a large part of trading and market value. The 142% subscription rate shows demand for the offer, but the first trading sessions will provide a clearer test of what investors think the bank is worth beyond the CFAF 6,750 IPO price. At that price, Bridge Bank is valued at about CFAF 337.5 billion. The 20% free float also gives the market about CFAF 67.5 billion of shares that can change hands, though actual liquidity will depend on how much investors trade after listing. Another point is where the money goes. Because the transaction involved 10 million existing shares sold by Bridge Group West Africa, the CFAF 67.5 billion does not represent fresh capital raised by Bridge Bank itself. The benefit to the bank is instead a broader shareholder base, a public market valuation and easier access to capital markets for future financing. That could matter as it expands beyond Côte d’Ivoire and Senegal. The listing also gives the BRVM another test of whether recent gains in market capitalization are being matched by more listings, more investors and deeper trading across the exchange.

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