According to a statement from the financial institution, BAI filed with the Capital Markets Commission (CMC) the request for approval of the Prospectus for the sale of 1,945 000 shares, representing 10 percent of the bank's share capital, held by oil company Sonangol (8.5 percent) and state diamond company Endiama (1.5 percent), represented in the act by the State Asset Management Institute (IGAPE).
BAI's shareholders approved last year the amendment to the statutes to allow the opening of its capital on the stock exchange in 2022.
"With this important change, BAI will assume the status of a public company and will have to comply with certain requirements, namely an adaptation of systems and processes, a greater requirement in the disclosure of timely and transparent financial information", highlights the bank, a statement released at the time.
BAI's structure is made up of 54 shareholders, none of which holds qualified holdings, with Sonangol standing out as the main shareholder with 8.50 percent of the capital.
The group of shareholders also includes Oberman Finance Corp (5.00 percent), Dabas Management Limeted (5.00 percent), Mário Palhares (5.00 percent), Theodore Giletti (5.00 percent), Lobina Anstalt (5.00 percent), Coromasi Participações Lda. (4.75 percent), Mário Barber (3.87 percent), Luís Lélis (3.00 percent) and "Others" unidentified, who share the remaining 54.88 percent of the capital.
The Angolan executive's Privatization Program foresees the sale of Sonangol's stakes in sectors such as insurance and banking and the departure of BAI was scheduled for 2020, but the public tender did not go forward, now taking place through the Offer Public Sale.
BAI, the largest Angolan bank in terms of assets, has recognized, since 2017, own shares with a nominal value corresponding to 5 percent of the share capital.
