Ver Angola

Banking and Insurance

General Dino sells position in BAI

General Leopoldino Fragoso do Nascimento ‘Dino’ sold the three percent stake he held in Banco Angolano de Investimentos (BAI). The three percent were sold to BAI itself for nearly 20 million dollars.

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The transaction was paid in national currency, in the equivalent of almost 20 million dollars, according to Expansão.

Sources revealed to the same newspaper that the deal was finalized at the end of last month and that it has already been communicated to the competent authorities.

With this deal, BAI now holds eight percent of its shares.

It is recalled that at the end of last year, the general sold his position at Puma Energy and resigned as vice president at Unitel.

It should be noted that the bank is preparing to sell to the public, via the stock exchange, the 10 percent held by the State.

About this process, IGAPE, in statements to Expansão, revealed that it is already advanced: "The process of selling the State shares in BAI is already at an advanced stage and it is at the stage of registering the issuance prospectus with the capital market and work is currently underway for admission to the regulated market".

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