Regulatory Alerts2023-08-24
Instruction No. 52/2017 Applicable to Issuers Making a Public Offering for Admission to the Third Market Segment of the BRVM
The Regional Council for Public Savings and Financial Markets (CREPMF) of the West African Monetary Union issued Instruction No. 52/2017 to establish admission conditions for issuers conducting public offerings into the BRVM's Third Market Segment. The regulation mandates specific pre-admission requirements, including a certified Information Note, appointment of a lead Management and Intermediation Company (SGI) and a Listing Sponsor, and submission of comprehensive financial and corporate documentation. Furthermore, it imposes strict ongoing publication obligations for periodic financial reports, material events, capital changes, and corporate actions to ensure investor protection and market transparency.
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