Record transactions for Ecobank Côte d'Ivoire shares on the Abidjan Stock Exchange

(Ecofin Agency) – A large transaction in Ecobank Côte d'Ivoire shares has pushed daily trading volumes to a record high. The investor who authored this performance could be seduced by the fact that the Bank is resilient in the face of covid-19.

Ecobank Côte d'Ivoire shares were the subject of a record transaction that remains unexplained during the session of November 5, 2020.

More than one million of its shares have been traded on the Regional Stock Exchange (BRVM). This is a volume well above the 980,105 shares of the company traded on February 20, 2018, three months after its IPO.

What we know for the moment is that this volume is not the result of strong demand from several investors, but rather that of a single one of them who would have acquired a little more than 900,000 shares of the financial company. The latter also had to pay a high price, as the stock ended up 7.8% according to today's official listing bulletin.

Ecobank Côte d'Ivoire has something to seduce investors, because of its generous dividend policy. For the 2019 financial year, it distributed 19.4 billion FCFA in gross dividends, or 76.6% of its net profit for the year. As a result, the Bank continued to reduce its expenses and control its risk costs.

Despite covid-19, its net profit for the first 9 months of 2020 is up 27.1%. It remains to be seen who is the mysterious investor who offered himself 2% of his shares.

Idriss Linge