On November 30, the BRVM announced the first listing of the bond loan of the Autonomous Port of Dakar (PAD), admitted to the bond compartment, for December 18, 2020.

“To finance the construction of a port in the commune of Popouguine – Ndayane located 70 km south of Dakar, in the department of Mbour and the region of Thiès, the PAD mobilized resources on the Regional Financial Market through a bond loan”, recalls the BRVM in a press release announcing the date of the first listing.

“The distribution of these “PAD 6.60% 2020-2027” securities to the public at a price of 10,000 FCFA per bond took place from October 1 to 12, 2020. At the end of this operation, 6 million bonds “ PAD 6.60% 2020-2027” for an amount of 60 billion FCFA were subscribed on the WAEMU Regional Financial Market”, continues the same source.

According to the BRVM, the first trading price will be determined by the confrontation of buy and sell orders. The symbol adopted for the security is “PADS.03”, and the management and intermediation company (SGI) Invictus Capital & Finance is responsible for the initial public offering of the loan in question.

It should be noted that the bond loan launched on October 1, 2020 had been closed in anticipation. Already on October 12, demand had reached 94 billion CFA francs, an oversubscription of 157%. The resources raised within the framework of this operation are intended to finance a project which will enable the Senegalese port of Dakar, among other things, to attract by 2025, latest generation ships thanks to its quay depth of 18 meters