(Ecofin Agency) - The splitting of shares of the Ivorian subsidiary of the French energy group Total (Total Côte d'Ivoire) will take place on 27^th July, we learn from an official press release from the management of the UEMOA regional stock market. The fractioning proposal was cleared at the general meeting of shareholders on 17 June 2015.

The fractioning report provides for 20 new shares against each old share, which will bring the stock market float volume of the company to 3,401,400 shares. The par value for each share (FCfa5,000) will now be of FCfa250. From that perspective, the company’s shares will be more affordable.

“The shares fractioning must facilitate a better tradability, and as a result promote the stock market liquidity, while creating easier buying conditions for small investors”, explained Total CI in a press release. It will be nevertheless necessary to wait for the theoretical value of the share which will be available on 24 July as well as follow its movements on the market.

Some investors did not wait at all. About 121 shares were sold on the BRVM for an approximate value of FCfa 42.4 million. If these shares were bought at the end of 2014, this would mean a capital of 75%.

The stakes for this splitting seem to be on the stock market capitalisation of the company. It reached FCfa220.3 billion on 9 July 2015. An amount today representing 31.9 times the net profit for the year 2014 (FCfa6.9 billion).