The new shares resulting from the capital increase by cash contribution preceded by a reduction in the share capital to zero of Unilever Côte d'Ivoire, a subsidiary of Unilever Overseas Holdings Limited, will be admitted to the listing of the Regional Stock Exchange (BRVM) on March 17, 2020, announced the officials of this Stock Exchange based in Abidjan.

This admission will allow investors who had not been able to acquire these securities at the launch of the power operation or those wishing to strengthen the number of their Unilever shares, do so with a reference price of 4775 FCFA (7.16 euros).

During the period from 26 July  to 26 August 2019, Unilever's directors had carried out a capital increase for an amount of 45.917 billion FCFA (68.875 million euros).

This operation was carried out through the issuance of 9,183,400 new shares at a subscription price of 5,000 FCFA.

The objective  of the transaction was to bring the company into conformity with the revised Uniform Act on the law of commercial companies and economic interest groupings in its articles 664 and 665. It was approved by the Extraordinary General Meeting of Shareholders held on November 23, 2018.

The transaction thus allowed the company to restructure its equity, which showed cumulative losses over several years with a carry-over again deficit of 32.599 billion CFA francs and negative equity of 21.964 billion  CFA francs under the last approved accounts.

This unenviable situation had also led the BRVM authorities to suspend Unilever from listing on 12 June 2018 following a proposed public takeover bid (OPR) introduced by the company's managers.

How will BRVM investors react to the admission to listing of this value ? Will they rush into the new Unilever shares or take a cautious stance in view of the company's previous situation? The first days of quotation will allow to be built.

In any event, the investor in brVM cannot ignore the fact that Unilever Côte d'Ivoire has the support of its parent  company Unilever Overseas Holdings Limited, which is also the majority shareholder. The latter had indicated, before the capital increase, its irrevocable intention to subscribe for all the shares, which might not be subscribed on an irreducible and reducible basis, regardless of the state of the subscriptions actually received, so as to ensure the success of the operation and the level of capital necessary for the The reorganization of the company's balance sheet structure is achieved.

Secondly, the investor must integrate into his analysis and strategy that investment in the stock market is made in a medium and long term horizon. This allows him to make his investment profitable.