(Business in Cameroon) – BGFI Holding Corporation has officially relaunched its plan for an Initial Public Offering (IPO) on the Central African Stock Exchange (Bvmac). The board of directors, meeting in a special session on Oct. 20, 2025, decided to resume the IPO process immediately, including moving forward with formalities before the Central African Financial Market SBupervisory Commission (Cosumaf), according to a statement seen by Business in Cameroon.
Once Cosumaf approval is obtained, BGFIBourse, the lead arranger and exclusive bookrunner, will launch the public subscription offer targeting institutional and individual investors in the sub-region. The holding company positioned the IPO as a “major strategic milestone for the launch of the new corporate plan for 2026-2030.”
The relaunch follows a key legal victory for BGFI Holding at the Libreville Commercial Court on Sept. 19, 2025. The court ruled in favor of the group in a dispute against a collective of shareholders led by Christian Kerangall, who holds a 23% stake. The court rejected “all of the applicants’ allegations,” dismissed “all of their claims,” and validated “all of the resolutions adopted” at the last general meeting.
The core of the dispute revolved around the IPO, which was initially scheduled for July 15, then postponed to July 31, and subsequently suspended indefinitely. Dissident shareholders also contested a capital increase of 15.7 billion CFA francs, which raised the social capital from 141.6 billion to 157.3 billion CFA francs.
By confirming the regularity of the extraordinary general meeting held on June 25, 2025, the court removed the main legal obstacle to the operation. The judgment emphasized that the meeting “took place in strict compliance with the legal and regulatory provisions in force.”
The IPO, set to take place on the financial market in Douala, had drawn significant investor interest. The plan involves listing 1,573,536 shares, representing 10% of the capital, at a price of 80,000 CFA francs per unit. The total amount raised, 125.8 billion CFA francs, is intended to strengthen the group’s equity capital.
Amina Malloum
