BGFI Holding Corporation announced on Thursday 15 October the closing, with oversubscription, of the second phase of its public savings offer, which aimed to raise 80.558 billion FCFA. The parent company of the Gabonese banking group reported demand exceeding the number of securities offered, according to its statement as relayed by Sika Finance and Gabon Media Time.
Opened on 15 September, the offer covered 1,006,975 new shares at 80,000 FCFA each. The final amount raised and the oversubscription rate are not specified in the announcement. The 80.558 billion FCFA therefore corresponds to the size of the offer, while the final allocation of shares remains to be detailed.
This tranche follows a first raise of 45.325 billion FCFA and aims to raise the share of capital held by the public from 3.85% to 10%. Combining the first raise with the target of the second represents about 125.9 billion FCFA.
The funds are to support the BGFI 2030 corporate project, which plans to strengthen the group's activities in its priority markets and create three new subsidiaries. BGFIBank operates in twelve countries and employs more than 3,000 staff.
BGFIBourse and EDC Bourse have been appointed lead arrangers of this second phase, which was registered with the Central African Financial Market Supervisory Commission (COSUMAF) under visa reference COSUMAF-APE-06/26.