The Côte d’Ivoire’s government has launched a public offering to sell a 9.5 percent stake in Orange’s local business unit, according to Datacenter Dynamics.
Orange Cote D’ivoire, part of the Orange CI Group, provides mobile telecommunication services, as well as fiber-optic internet services.
The government is selling up to 14.99 million shares through West Africa’s regional stock exchange in an effort to raise $222 million from the sale. Some 14.2 million of these shares will be available to the public, and 750,000 shares will be made available to employees at the company.
The Côte d’Ivoire government now has a 14.95 percent stake in Orange IC, and will retain a 5 percent share after the sale. The public offering will run until Dec. 19.