Senegalese tycoon Yerim Sow’s Bridge Bank sets Sept. 24 BRVM debut after $120 million IPO

Bridge Bank Côte d’Ivoire, the Ivorian banking subsidiary of Senegalese tycoon Yerim Sow’s Teyliom Group, controlled via Bridge Group West Africa, is set to begin trading on the Bourse Régionale des Valeurs Mobilières (BRVM) on September 24, marking its debut on West Africa’s regional stock exchange after a heavily oversubscribed public offering.

The bank will trade under the ticker BBGC, with a reference price of CFAF6,750 (about $12) per share. Its public offering attracted CFAF95.8 billion ($171 million) in orders for CFAF67.5 billion ($120 million) worth of shares, representing a subscription rate of 142%.

Bridge Bank draws 17,544 investors in IPO

According to a BRVM regulatory disclosure published on September 8, Bridge Bank’s shares will be admitted to the main compartment of the exchange’s equity market from September 24. The first trading session will allow buy and sell orders to be matched, determining the bank’s opening market price. 

The CFAF6,750 ($12) reference price was set during the public offering. The IPO, which opened on July 20, involved 10 million existing shares representing 20% of Bridge Bank’s capital. The offering was initially scheduled to close on August 6 but was brought forward to July 21 after strong investor demand.

Total subscriptions reached CFAF95.8 billion ($170 million), generating excess demand of CFAF28.3 billion ($50.22 million) above the CFAF67.5 billion ($120 million) value of shares offered. Individual investors accounted for 58% of subscriptions, while 17,544 investors from four continents participated.

Public offering reshapes Bridge Bank ownership

The listing will broaden Bridge Bank’s shareholder base and reduce the controlling stake held by Bridge Group West Africa, a subsidiary of Teyliom Group. Before the offering, Bridge Group West Africa owned 77% of the bank, while Caisse Nationale de Prévoyance Sociale (CNPS) held 20% and other shareholders owned the remaining 3%.

Following the sale of 20% of the bank’s capital to the public, Bridge Group West Africa will retain a 57% stake. CNPS will continue to hold 20%, while existing shareholders will retain 3%. New public investors will collectively own 20%.

The BRVM listing will also give investors a market-based mechanism for valuing Bridge Bank shares beyond the CFAF6,750 price established during the IPO.

Bridge Bank expands across West Africa

Founded in 2006, Bridge Bank has been expanding its regional footprint beyond Côte d’Ivoire as it seeks to establish itself as a broader West African banking platform.

The bank entered Senegal in 2021 through a branch and plans to convert the operation into a banking subsidiary.

It also plans to establish a subsidiary in Guinea in January 2027 and open a branch in Burkina Faso during the first half of 2027. Bridge Bank submitted an application in April 2025 seeking approval to establish operations in Burkina Faso.

The planned expansion comes as the bank seeks to strengthen its presence across markets where demand for corporate and retail financial services continues to grow.

IPO proceeds to fund regional expansion

Bridge Bank Group Côte d’Ivoire was founded in 2006 by Senegalese billionaire Yerim Sow through his financial holding company, Teyliom Group (via Bridge Group West Africa). 

The funds raised through the public offering will support Bridge Bank’s expansion strategy, including its planned entry into new West African markets.

Part of the proceeds will also be directed toward the bank’s digital transformation and efforts to strengthen its capacity to finance businesses.

The September 24 debut will make Bridge Bank Group Côte d’Ivoire the 16th bank and 48th company listed on the BRVM, adding another banking stock to the regional exchange.

For Teyliom Group, the listing represents a further step in broadening its financial-services interests while giving Bridge Bank access to the regional capital market as it pursues expansion beyond its home market in Côte d’Ivoire.