UPDATE: Bridge Bank Group Côte d’Ivoire closed the share offer early after the first day, 20 July. In a statement on 21 July the bank said (translated from French): “Due to an exceptional response from investors, the offering closed early—less than 24 hours after it opened.” The bank told African Capital Markets News that the $117m capital raise was “fully subscribed”. It adds that the listing date may move forward to August, subject to approvals. Here are the links to the Bridge Bank announcement and a similar announcement by Bridge Securities.

Previous story – IPO overview

The initial public offering (IPO) of 20% of the shares in Bridge Bank Group Côte d’Ivoire opened on 20 July and will continue until 6 August, although it may close early if it is fully subscribed. The bank aims to list on the regional stock exchange, Bourse Régionale des Valeurs Mobilières (BRVM)

The offer is 10 million ordinary shares offered at XOF 6,750 francs each in a total offer worth XOF 67.5 billion ($117m). The shares (nominal value XOF 400 each) are being sold by Bridge Group West Africa, the financial holding company of Senegalese businessman Yérim Sow’s Teyliom Group, which owned 77% before the offer. Deal arranger and lead manager is group subsidiary Bridge Sécurities. The offer targets 25% subscription by Ivorian individuals, 45% for Ivorian institutions and 30% for investors (people and enterprises) outside Côte d’Ivoire.

The regional financial market authority l’Autorité des Marchés Financiers de l’Union Monétaire Ouest Africaine (AMF-UMOA) gave its approval on 26 June and the prospectus can be obtained here (in French). The 6 August closing date is on the prospectus, previously 21 August had been indicated (see for example this story on African Markets website after the IPO was launched).

If all goes according to plan, Bridge Group will retain 57% shareholding and the other shareholders will remain the Ivorian state security fund Caisse Nationale de Prévoyance Sociale (CNPS) with a 20% stake and existing individual shareholders with 3% between them. The public will own the 20% free float.

Booming economy, expansion plans

Ehouman Kassi, MD of Bridge Bank, said the drivers for the capital raise and listing were: expansion plans, the opportunity of economic growth, reaching out to investors across the eight countries of the UMOA region and soaring share prices on the BRVM.

The group operates in Côte d’Ivoire, Senegal and Mali, plans to enter Guinea in 2027 and applied in 2025 to the regulator to enter Burkina Faso (see earlier story on Ecofin webiste). It is investing in upgrades to its technology platform and digital services.

Business magnate Sow launched into telecoms in 1988 and founded the Teyliom Group in 2001 (here is a profile of him on Africa Signal). In 2005 he expanded into property and hospitality. The group now spans 16 countries – including Guinea – with 61 companies operating in telecommunications, infrastructure, housing, hotels, banking and industry. It develops large residential and commercial projects in Senegal, Côte d’Ivoire and Mali, and runs 5 hotels with 12 more under construction or planned. There is a history of the Teyliom Group here.

Bridge Bank was founded in Abidjan in 2006. It grew by financing small and medium enterprises (SMEs) in Côte d’Ivoire and now also lends to larger businesses and institutions. Private equity group AfricInvest helped set up Bridge Securities, Bridge Asset Management and Bridge Micro Finance (BMF) before exiting by selling the shareholding in 2022, according to this story on the great Africa Private Equity News website.

For the year to 31 December 2025, BBGCI boosted its total assets by 28% to XOF 1,427bn ($2.5bn). Net banking income was up 15% to XOF 68bn ($118m), profit before tax up 16% and net income up 19% to XOF 27bn ($47m). In the first quarter of 2026, the bank group posted net banking income of XOF 16bn ($28m), up 23% compared to the first quarter of 2025, and net profit of XOF 8bn ($14m), up 48%. The bank says it will distribute up to 65% of future earnings to shareholders as dividends over the next five years. Management says this will represent an annual return of between 28% and 29%.

If the listing succeeds, target date 4 September, Bridge Bank Group Côte d’Ivoire will become the 16th bank and 48th company listed on the BRVM. There are 15 banks registered in Côte d’Ivoire.

The previous bank listing was Benin’s Banque Internationale pour l’Industrie et le Commerce (BIIC) which raised $174m in April 2025.

The soaring BRVM Composite Index (BRVM-CI) climbed by 25% in 2025 and is up 38.4% in 2026 up to 17 July (source: African Markets website).