Vivo Energy Cote d’Ivoire will proceed next month to a stock split at a rate of 50 new shares for an old one, WAEMU’s Bourse Regionale des Valeurs Mobilières (BRVM) announced. As the Ecofin Agency (Agence Ecofin) reported previously, the decision was taken at the firm’s ordinary and extraordinary general meeting held on June 23, 2016.

Starting November 4, 2016, the volumes of shares will grow to 63 million from 1.26 million currently. Their nominal value will rise to fifty from 2,500. It is only on Nov. 3rd that the share’s new rate will be available. With a price-to-earnings ratio of 57.8 and a growth rate of 116% since January 1, Vivo Energy CI is one the most desired securities of the BRVM and its growth potential is increasing.

The company reported net income of 2.3 billion CFA francs for the last semester ended on June 30, 2016 up 10% from 2.1 billion it recorded in 2015, over the same period. Its sales surged 9%, spurred by expanded network. However, pump price impaired its turnover which decreased by 5% to 130.18 billion CFA francs over the first half of 2016, against 137.6 billion the year before.

Idriss Linge