TRANSACTION RECORD : Bange Value Makes Second Largest Transaction for Bvmac
During the trading session on December 6, 2023, the Bange value made the subject of a major transaction at the Central African Securities Exchange (Bvmac). Investors bought 5,000 securities of this value, worth one billion thirty-five million FCFA.
The five thousand securities were purchased at a unit price of 207,110 FCFA (with a stable price compared to its previous closing level), for an amount of over 1 billion FCFA, a record on the regional stock market. Since its listing on September 28, 2022, this is the 2nd largest transaction recorded on this security, after that of December 23, 2022 when 5,725 securities were traded for 1.183 billion FCFA.
Despite the high share price of Bange (207,110 F as of December 07, 2023), investors go on buying looking at the good performance of the company. At 56 billion francs, the capital of the Equatoguinean group is one of the largest in the entire Cemac, sufficient to finance its strategic and financial plan. Two years after the opening of its subsidiary in Cameroon, Bange Bank has recently deployed on the Beninese banking market.
The Malabo-based credit institution completed the purchase of more than 69 % of the shares of Ccei Bank Benin, the former bank of Cameroonian Paul Fokam Kammogne. « Our development plan remains ambitious, because we plan to deploy more in Central Africa and West Africa », said Martin Crisanto EBE MBA, Chairman of the Board of Directors of Bange Bank, indicating the Ivory Coast as the next destination after Benin. The executive also revealed that the bank has opened a branch in Spain « which opens the doors to the European market for us », he concluded. Bange closed 2022 with 5.2 billion in profits and is aiming for 19 billion in 2024. A solid argument with dividend-minded investors.
The share market also closed on a transaction of 521 SCG-Re shares, issued by the Gabonese commercial reinsurance company at a cost of 10.9 million FCFA. The share price remained stable at 21,000 FCFA, the market capitalization at 461.5 billion and the free float at 66.4 billion.
Since November 23, 2023, the subregional stock exchange has strengthened with the listing of the bond with multiple rates and tranches of Cameroon (“ECMR 5.8 % NET 2023-2026”, “ECMR 6 % NET 2023-2027”, “ECMR 6.75 % NET 2023-2029”, “ECMR 7.25 % NET 2023-2031”) which has brought to 15, the number of values admitted to the “C-Bond” compartment. On December 1, followed the implementation of new reforms : daily fixed quotation, market order, stock index, to boost the dynamization of the regional financial market.
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