Loterie Nationale du Bénin to debut on the BRVM stock exchange in December 2024

The Bourse Régionale des Valeurs Mobilières (BRVM) has announced that shares of the Loterie Nationale du Bénin (LNB) will be listed for the first time on December 13, 2024. This marks a significant step as the state-owned lottery company enters the regional stock market under the ticker symbol LNBB.

As part of this initiative, the Beninese government, the sole shareholder of LNB, offered up to 9 million shares through a public offering from October 7 to 25, 2024, at a price of 4,800 FCFA per share. This move aims to diversify the company's ownership, promote regional stock market activity, and raise funds transparently without incurring debt.

The initial trading price will be determined on the day of listing through a standard auction process. The EDC Investment Corporation is managing the Initial Public Offering (IPO), ensuring compliance and transparency throughout the process.

Headquartered in Cotonou, the LNB operates as a public limited company under the OHADA Uniform Act on commercial company law. Its mission is to mobilize national savings to fund social, cultural, and sports projects, aligning with the government's broader economic development goals. By encouraging popular shareholding, the government aims to strengthen public investment in the lottery sector, contributing to economic growth.