The West African regional stock exchange, the BRVM, displayed an adjusted reference price of CFA4,385 for Sonatel (SNTS) on Monday, 26 October 2026, as the telecoms company's ten-for-one share split took effect. The figure is exactly one-tenth of the CFA43,850 closing price recorded on Friday, 23 October.
The new reference does not represent an economic collapse in Sonatel's value. The exchange's market banner showed an apparent 90% difference from the old per-share price on Monday morning, while total market turnover was still displayed as zero at the time of consultation. A reference price should not be mistaken for a newly executed trade in the split shares.
Sonatel shareholders approved the operation at an extraordinary general meeting on 8 October. The number of outstanding shares rises from 100 million to one billion, while their nominal value falls from CFA500 to CFA50. The company's share capital remains CFA50 billion. At the adjusted reference price, its theoretical market value stays at CFA4,385 billion.
The adjustment is automatic for investors. Someone who held one share before the split is to receive ten new shares, with no paperwork or fees required under Sonatel's announcement. Each shareholder retains the same percentage stake and the theoretical value of their holding is unchanged at the time of conversion, excluding subsequent market movements.
Sonatel says the smaller unit price is intended to make its shares more accessible to savers, broaden ownership and encourage trading. Whether the change improves market liquidity will depend on transactions after the new trading basis has taken effect.
The split follows a 23 October session when Sonatel rose 4.40% to close at CFA43,850 on the old share basis. Monday's CFA4,385 reference preserves that same underlying value across ten times as many shares.