By NDUMBE BELL GASTON
The much discussed and delayed integration of the capital markets within the financial circles in the nation and the CEMAC Zone, has received another boost.
According to reliable information sourced from BEAC, a constituted general assembly is to meet in yet an un-named location and specific date, in July 2019, where BEAC is charged with the responsibility to supervise and broker the mergers and acquisition procedures according to the region’s harmonized laws or legal framework also known as OHADA.
It is all about the fusion of the Douala Stock Exchange or D.S.X based in Douala, Cameroon and BVMAC (Bourse de Valeurs Mobilières en Afrique) with headquarters in Libreville in Gabon. The game plan stipulates that it is BVMAC to acquire D.S.X of which the detailed conditions to cement the deal will have to be given an interval of one month where the stakeholders will be expected to confirm or reject the merger.
BEAC sources say that at the confirmation of partnership deed, the name Douala Stock Exchange will seize to exist and is expected to be replaced by what they call the New BVMAC, whose headquarters will no more be in Libreville, Gabon but transferred to the economic capital of Douala Cameroon, as was disclosed in their May 31 report.
The SUN equally found out that while the new Stock Exchange will not alter its limited liability status, some restructuring and other changes are expected to be drawn in the process; one of them is that the new merger will be drawn from existing enterprises quoted in both stock markets, while according to BEAC, they intend to increase the number of quoted enterprises and envisaged capital.
Before awaiting take-off, present statistics indicate that DSX has three quoted enterprises comprising of SOCAPALM, SAFACAM and SEMC when compared to BVMAC which has only one, showing that DSX has 96, 37% followed by BVMAC with 3, 63% out of four quoted enterprises. On the other in the bonds market, BVMAC and DSX have a total of twelve enterprises which are quoted in both stock markets. BVMAC has seven while DSX has five which in percentage terms corresponds to 54, 37% (BVMAC) or FCFA 442 billion and DSX 45, 63% or F CFA 371 billion.
Equally, the shares market value then stood at F CFA 151, 3 billion for DSX and the corresponding shares market value was F CFA 5,7 billion for BVMAC.