Cote d'Ivoire: Bridge Bank Jumps 16 Percent in BRVM Debut Amid Broad Market Decline

Bridge Bank Group Côte d’Ivoire (BRVM: BBGC) jumped 15.48% across its first two sessions on the BRVM, becoming the exchange’s top performer for the week ended Sept. 25 despite a broad market drop. Shares closed at XOF 7,795 versus an IPO reference price of XOF 6,750. The stock started trading Sept. 24, rising 7.48% to XOF 7,255, then gained another 7.44% on Sept. 25. The debut followed a public offering that drew XOF 95.8 billion of orders for XOF 67.5 billion of shares, with a 142% subscription rate, from 17,544 investors in 45 countries. Market pressure persisted: the BRVM Composite fell 2.34% to 540.78 points and BRVM 30 lost 2.55%.