Oragroup : ongoing block trade raises questions about future valuation of full divestment
The block trade transaction underway for the purchase by SBNA West Africa of 6,100,481 shares of IPS-CGRAE in Oragroup – a 9% stake – was notified to the BRVM on 24 August.
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▪ Oragroup : ongoing block trade raises questions about future valuation of full divestment
▪ The block trade transaction underway for the purchase by SBNA West Africa of 6,100,481 shares of IPS-CGRAE in Oragroup – a 9% stake – was notified to the BRVM on 24 August.
▪ https://www.africabusinessplus.com/en/813044/oragroup-ongoing-block-trade-raises-questions-about-the-valuation-of-a-full-divestment/
On that date, the share price of the banking group was CFAF 4,150 (€6.3), which valued the Côte d’Ivoire pension fund’s shares at CFAF 25,316,630,275. Yesterday, a week after the various reports in the local and foreign press, including the cancellation of the deal by CGRAE on 29 August in a letter to SGI Hudson & Co, Oragroup’s share price closed at CFA F 4,060. Later, on 31 August, Hudson issued a statement explaining that it was not involved in the deal.
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