The BRVM has decided to suspend trading in Oragroup shares. This decision comes the day after the announcement by the Togolese banking group of the refusal by the competent authorities to validate an agreement aimed at changing the structure of its capital

The UEMOA Regional Securities Exchange (BRVM) based in Abidjan suspended trading in shares in the Togolese financial group Oragroup on Friday, October 30.

The trading company explains its decision by the “circulation of important information relating to the capital structure” of the company, which “has not yet been in the Official Rating Bulletin in order to ensure the fairness of investors.”

This decision may only be a formality until Oragroup complies with this publication requirement. On Thursday, October 29, its officials announced in a statement that the UEMOA Banking Commission had issued an unfavorable and binding opinion on its request for “prior authorization for the modification of the shareholding structure” of the holding and the group's subsidiaries based in Benin, Côte d'Ivoire

On November 21, 2019, Oragroup announced an agreement for the partial sale of shares held in its capital by the pan-African investment fund Emerging Capital Partners (ECP) to the Social Insurance Institute - General Retirement Fund for State Employees (IPS-CGRAE) in Côte d'Ivoire. The agreement also concerns several institutional shareholders (Proparco, DEG, BIO and

So far no official reason has been given to justify this refusal. Recall that Oragroup's stock market performance does not confirm the success and enthusiasm generated by the IPO

Likewise, on the operational level, the group is a bit struggling in the year 2020. Its net profit over the first 9 months fell by 44% compared to that of the previous year. This situation is attributed to the sharp rise in the cost of risks.

Also, 78,041 Bank shares were traded on the BRVM on 10 September 2020, according to market information obtained by the Ecofin Agency. The identity of the investors behind this record volume for the company at the BRVM since its IPO is not known