An exit that illustrates the limits of some listed SMEs…
Abidjan, June 26, 2025 – The logistics company Movis Côte d’Ivoire (Movis CI) has officially been delisted from the Regional Stock Exchange (BRVM) following its Public Withdrawal Offer (OPR), marking the end of its listing on the regional financial market.
The operation, which took place from April 21 to May 21, 2025, involved 111 shares representing 0.0133% of the company’s share capital, which is the entirety of its float. Offered at a unit price of 40,000 CFA francs (approximately 66.85 dollars), the shares were fully repurchased by the majority shareholder, Movis International, for a total amount of 4.44 million CFA francs. The delisting of the MOVIS CI stock (symbol: SVOC) occurred on Thursday, June 26, 2025, in accordance with notice n°069-2025/BRVM/DG.
An early withdrawal motivated by structural difficulties
The decision to delist was approved by shareholders at a general meeting held last April. In an information note dated April 7, 2025, the company cited unfavorable market conditions and persistent financial difficulties: a decrease in productivity in a tense logistics sector, delayed payments from several clients, and a rise in operating expenses without equivalent revenue growth.
These factors led to cumulative losses exceeding 12 billion CFA francs (approximately 20.1 million dollars) over the past three fiscal years. For the year 2023, Movis CI reported a net loss of 3.51 billion CFA francs (5.9 million dollars), confirming a worrying financial trend. A withdrawal plan had already been mentioned as early as May 2024, in a context of strategic rationalization.
The case of Movis CI highlights the structural constraints faced by some small and medium-sized enterprises listed on the BRVM, particularly in terms of stock market liquidity, governance, and financial transparency. With a very limited float and low attractiveness in the secondary market, remaining listed became economically unjustifiable for the company.
