Bridge Bank Group Côte d’Ivoire launched an initial public offering on the BRVM, offering 10 million shares at 6,750 CFA francs each in one of the regional exchange’s largest listings in recent years.
The sale represents 20% of the bank’s capital and is expected to raise 67.5 billion CFA francs, or about $118 million. The offer runs from July 20 to Aug. 21, 2026, after approval from the Financial Markets Authority of the West African Monetary Union.
The listing would value the lender at about 337.5 billion CFA francs. If completed, Bridge Bank will become the 48th company and 16th bank listed on the BRVM, adding to a market where IPOs remain rare.
Bridge Bank said the timing reflects Côte d’Ivoire’s growth outlook, the BRVM’s 25% gain in 2025 and the lender’s expansion plans. First-quarter 2026 net banking income rose 23% from a year earlier to 16 billion CFA francs, while net profit increased 48% to 8 billion CFA francs.
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Proceeds will support regional growth and digital investment. Bridge Bank operates in Côte d’Ivoire, Senegal and Mali, and plans to enter Guinea by 2027. After the IPO, controlling shareholder Bridge Group West Africa, the Teyliom Group’s financial holding company, will see its stake fall to 57% from 77%. The Caisse Nationale de Prévoyance Sociale will keep 20%, with 20% held as free float and 3% reserved for individuals.
Key Takeaways
Bridge Bank’s IPO is a test for the BRVM’s primary market and for investor demand for West African banks. The deal gives public investors access to a lender with rising earnings, regional ambitions and a stated dividend policy of up to 65% of future profit over 5 years. It also gives Bridge Bank capital to expand and invest in digital services at a time when banks across WAEMU are competing for deposits, payments, credit growth and corporate clients. For the BRVM, the listing matters because new large issuers are needed to deepen trading and broaden the market beyond existing bank and telecom names. The offer also comes after BIIC Benin’s 2025 listing, suggesting activity in the regional IPO market is returning. The risks are execution, valuation and liquidity. Bridge Bank must show that earnings growth can continue after listing, that regional expansion can be managed without weakening asset quality, and that the promised dividend policy is supported by capital needs. A strong offer would support confidence in future BRVM listings.
