Gabon’s BGFIBank stock sale flops as investors shun Central Africa’s thin markets

• BGFI IPO raises $74mn but misses target by 80bn CFA francs
• Weak institutional demand highlights limits of Central Africa’s stock market

LIBREVILLE, GABON – BGFI Holding Corporation of Gabon raised 45.3bn CFA francs ($74mn) in its long-awaited initial public offering, falling far short of its target and exposing the fragility of Central Africa’s stock market.