(Business in Cameroon) - On March 13, 2018, the panel of Commission des marchés financiers (CMF) presided by Jean Claude Ngbwa, authorized Douala urban community (CUD) to launch an Initial Public Offering to constitute the share capital of Société d’investissement de Douala (SMID) which is CFA10 billion.  

This IPO, whose offering period has not been set, is addressed to local and international legal entities as well as physical persons who wish to acquire SMID’s shares. EDC Investment Corp will lead the operations and will submit the detailed report of the IPO to CMF, eight days maximum after the operation. The fund raised will be kept at Ecobank Cameroon. “SMID will be listed once it meets the listing requirements”, CMF informs.

This authorization is the concretization of Douala Urban community’s dream to create a SMID whose initial target was CFA1,400 billion. The fund will help build infrastructures such as the Centre international des conférences de Douala  (CFA12.4 billion), gare routière multimodale de Bonabéri (CFA1.9 billion), the urban forest of Bessékè (CFA2.29 billion), Douala exhibition center (about CFA8.5 billion), etc.

S.A