Bellwether stock Orange CI helps BRVM close positive
TLDR
- Orange CI, the second-highest capitalized stock on the BRVM, rose by 0.93% to 10,800 FCFA, contributing to a favorable close for the market.
- Sicor and Unilever were the best performers of the day, achieving gains of more than 7%.
- Servair Abidjan and Sicable experienced the most significant declines, while Sonatel dominated the trading session with a total transaction value of 305.1 million FCFA.
Orange CI, the second-highest capitalized stock on the BRVM, made a positive impact last week by posting its second consecutive gain, rising by 0.93% to 10,800 FCFA. This contributed to a favorable close for the market, with the BRVM Composite index rebounding by 0.23% to 207.88 points.
Alongside the Composite index, the BRVM 30 (+0.27% to 104.29 points) and BRVM Prestige (+0.10% to 96.75 points) indices also concluded in positive territory. In terms of individual stocks, Sicor (+7.50% to 3,655 FCFA) and Unilever (+7.48% to 6,180 FCFA) stood out as the best performers of the day, achieving gains of more than 7%.
On the downside, Servair Abidjan (-6.81% to 1,300 FCFA) and Sicable (-6.28% to 970 FCFA) experienced the most significant declines. Sonatel dominated the trading session, accounting for more than 65% with a total transaction value of 305.1 million FCFA out of a total of 466 million FCFA.
Points clés à retenir
The Bourse Régionale des Valeurs Mobilières (BVRM) is a regional stock exchange serving several West African countries. It is located in Cote d'Ivoire. In December 2022, the Ivorian subsidiary of French telecoms company Orange was listed on the West African bourse, following a successful initial public offering. Orange Cote d'Ivoire launched an initial public offering with stock worth 140.98 billion CFA francs ($215 million) sold at 9,500 CFA francs per share to private investors and 7,600 CFA francs per share to Orange Cote d'Ivoire employees. The company issued 13,470 shares at 10,210 CFA francs ($16.62) per share shortly after, giving Orange Côte d'Ivoire the second largest market capitalization after Senegalese telecoms company Sonatel.
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