Bollore Transport & Logistics Cote d’Ivoire, an Ivory Coast-based logistics company led by Ivorian businesswoman Martine Coffi-Studer, has recorded a XOF21.23-billion ($36.66 million) boost in its market capitalization in the past 55 days.
Bollore Transport & Logistics Cote d’Ivoire is majority-owned by Bollore Group, a French holding company founded by French billionaire businessman Vincent Bollore.
The group maintains active operations in more than 100 countries.
Bollore Transport & Logistics Cote d’Ivoire is majority-owned by the French logistics behemoth, maintaining active operations as one of its subsidiaries under Bollore Africa Logistics, which serves as the holding company for all the group’s assets on the African continent.
As of press time, Dec. 30, shares in the Cote d’Ivoire-based logistics company were worth XOF2,440 ($4.213), 1.67-percent higher than their opening price for the week on the Bourse Regionale des Valeurs Mobilieres, a regional stock exchange for companies in West Africa.
Since Nov. 5, its market capitalization has increased by more than $36 million, as investors on the regional bourse sustained buying interest in the logistics company.
The buying interest spurred the company’s share price to rise from XOF2,050 ($3.54) 54 days ago to XOF2,440 ($4.21) as of the time of the drafting of this report. This led to a 19-percent gain for shareholders in 55 days.
As a result, the company’s market capitalization has increased from XOF111.59 billion ($192.68 million) on Nov. 5 to XOF132.82 billion ($229.34 million) on Dec. 30.
This translates to an increase of XOF21.23 billion ($36.66 million) in its market capitalization in the past 55 days.
Since the year began, the company’s market capitalization is up by more than $83.6 million.
Part of this value bump is attributable to investors reacting positively to Mediterranean Shipping Company (MSC) Group’s €5.7-billion ($6.4 billion) offer to acquire Bollore Africa Logistics.
The offer, which is subject to the approval of regulatory and competition authorities, as well as certain counterparts of Bollore Africa Logistics, has been received by the French conglomerate.
In an effort to fast-track the deal, Bollore Group granted MSC exclusivity until March 31, 2022, which will enable the Swiss-Italian container-shipping company to submit a put-option in line with the contractual negotiations.
Upon the deal’s conclusion, the conglomerate will continue to maintain active operations in Africa through Canal+, the leading pay-TV operator in French-speaking Africa and a major shareholder in MultiChoice, the leading pay-TV operator in Africa.
