Regional Stock, Shares Market Launches First Quotations in Libreville

The maiden quotations of the Central African stocks and shares market (BVMAC) were launched on Wednesday at the headquarters of the regional institution in Libreville.

The Gabonese Prime Minister Jean Eyeghe Ndong was given the honor to ring the opening bell which launched trading of the quotations on the securities exchange.

The first share listed on the market was a CFA100 billion bond Gabon issued last December on the central African money market.

This operation enabled Gabon to raise CFA 81 billion from subscribers on the financial market, mainly insurance companies and banks in Gabon (40%), Equatorial Guinea 20%, Cameroon (15%) and others.

All companies that took part in this operation can from now on resell their shares to the possible buyers via the BVMAC.

In coming days, the stock market will launch the listing of companies eager to join the bourse with the hope of getting financings or sell shares.

The entirely electronic BVMAC will be connected to the other capitals of the sub region through specialized connections.

Indeed, the bourse acquired a high-tech data-processing platform thanks to a financial support of the first world supplier of stock market software, Euronext.

This platform will be connected to terminals established in 5 of the 6 member countries of the Economic and Monetary Community of Central Africa states (CEMAC) namely Central Africa, Congo, Gabon, Guinea Equatorial and Chad.

Cameroon, which did not want Libreville to house the headquarters, had decided to create its own stock market in Douala.

The BVMAC has been created in 2003 and the launching of its activities has been long-awaited.

Source African Press Agency

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