BRVM Set to List Benin National Lottery Shares in December
TLDR
- Benin's national lottery company, Loterie Nationale du Benin (LNB), to debut on BRVM stock exchange on December 13, 2024.
- Public offering of up to nine million shares by the state of Benin at 4,800 FCFA each to promote regional stock market ownership.
- EDC Investment Corporation to manage the IPO, with shares listed under symbol LNBB for transparent fundraising without debt.
Shares of Benin's national lottery company, Loterie Nationale du Benin (LNB) in French, will make its debut on the Bourse Régionale des Valeurs Mobilières (BRVM) stock exchange on December 13, 2024. The LNB, based in Cotonou, is a public limited company focused on mobilizing national savings for social, cultural, and sports investments.
The state of Benin, as the sole shareholder, initiated the sale of up to nine million shares through a public offering to diversify ownership and promote the regional stock market. The shares will be available for 4,800 FCFA each.
The first trading prices will be determined through a standard procedure on the listing day, with the stock symbol LNBB. EDC Investment Corporation will manage the initial public offering. The government seeks to raise funds without incurring debt, ensuring transparency throughout the process.
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Key Takeaways
The Benin National Lottery aims to mobilize national savings for social, cultural, and sports projects. The initiative aligns with the country's economic development plan and seeks to boost transparency in public offerings. The LNB is a public company that operates under the regulations of OHADA, focusing on funding projects that benefit society. By promoting popular shareholding, the government expects to increase investment in the lottery sector, contributing to economic growth.
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