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BVMAC : Socapalm’s shares record 18.4 million in single transaction

At the close of the trading session on July 24, the Central African Securities Exchange (Bvmac) recorded several transactions on the equity compartment. In particular, 368 shares from a subsidiary of the Luxembourg group Socfin were exchanged at a unit price of 50,100 FCFA. This price is up by 4.38 % compared to its closing level of July 21, 2023 which was 48,000 FCFA. These securities were traded for an envelope of 18.4 million FCFA.

Following the rise in Socapalm’s share price, the market capitalization is on the rise. It goes from a little more than 450 billion to 459.6 billion FCFA. Correlatively, the free float has also increased and skipped to 66.1 billion FCFA against 64.4 billion FCFA the previous day. Indeed, the rush of investors on this stock is directly linked to the payment, on July 11, of dividends to stock market shareholders on behalf of the 2022 financial year. An envelope of 1.5 billion FCFA has been distributed by the issuer. In a note signed by Louis Banga Ntolo, Managing Director of Bvmac, « The net unit dividend amounts to 2,002.50 FCFA for the shares constituting the float listed on the stock exchange ».

This distribution follows the positive net result achieved by this agribusiness specializing in palm oil production as of December 31, 2022. Although in slight decline, Socapalm’s profit amounted to 10.6 billion FCFA, against 13.7 billion in 2021, a decrease of over 3 billion FCFA in relative value and 22.3 % in absolute value. There is also a decrease of 1.6 % (1.2 million FCFA) in its turnover in 2022.

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On the Bonds compartment of the regional stock exchange, the session of July 24, 2023 recorded no transactions. This keeps the outstanding listed debts stable at 1,202.4 billion FCFA, compared to the thirty scholarships that the African continent has. The Central Bank launched a call for tenders on May 22, in order to recruit a consultant with a view to improving the listing system of the regional stock exchange.

At the Bvmac, Louis Banga Ntolo is looking forward to increasing the number of trading days from three to five days, that is to say from Monday to Friday and no longer on Mondays, Wednesdays and Fridays as is customary. Moreover, the reactivation of the zero coupon Treasury Bond Market vMarket (OTZ) by Cameroon participates in the policy aimed at boosting the unified stock market.

Sorelle Ninguem

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