Movis Côte d’Ivoire Delists from BRVM After Buyout

AFRICAN STOCKS AND FINANCEJuly 8, 2025 at 10:14 AM UTC

TLDR

Movis Côte d’Ivoire was officially delisted from the West African regional stock exchange (BRVM) following a public buyout by its majority shareholder, Movis International.
The buyout offer, held from April 21 to May 21, targeted the remaining 111 shares in free float, representing the final tranche of publicly held equity
The delisting follows three consecutive years of financial losses, totaling nearly CFA 12 billion

Movis Côte d’Ivoire (BRVM: SVOC) was officially delisted from the West African regional stock exchange (BRVM) following a public buyout by its majority shareholder, Movis International.

The buyout offer, held from April 21 to May 21, targeted the remaining 111 shares in free float, representing the final tranche of publicly held equity. Investors received 40,000 CFA francs per share, or approximately $66.85. The offer was fully subscribed.

The delisting follows three consecutive years of financial losses, totaling nearly CFA 12 billion. In 2023 alone, losses reached CFA 3.51 billion, driven by weak receivables recovery, rising costs, and declining productivity. Movis had announced plans to exit the market in May 2024.

Trading in SVOC shares had been thin, and the company cited low liquidity and high listing costs as reasons for leaving the BRVM. With its exit, Africa Global Logistics remains the only transport-sector stock on the exchange.

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Points clés à retenir

Movis CI’s delisting reflects broader challenges in West Africa’s transport and logistics sector, where cash flow volatility, client payment delays, and rising operational costs strain profitability. For listed firms with limited free float and low trading activity, staying on the BRVM can become economically unjustifiable. Movis International’s decision to consolidate ownership and delist follows a growing trend among companies seeking to reduce regulatory overhead and regain operational flexibility. While the move may help restructure the business privately, it also signals a contraction in sector representation on the BRVM. For investors, the departure narrows sector diversification, while raising questions about the market's ability to retain and support mid-sized, capital-intensive firms under pressure.

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