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Energy

Somoil continues to prepare an entry into the stock exchange to help finance itself

The chairman of the board of directors of Somoil said this Wednesday that the process of preparation for listing on the stock exchange in 2025 is underway, admitting that the company is currently not prepared.

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According to Edson dos Santos, work is under way to organize the company to take this step, noting that "Somoil is worth much, much more today than it was worth two years ago".

The official stressed that listing on the stock exchange is another way for the company to finance itself.

"And we believe that for Somoil, part of our growth will have to come from listing on the stock exchange. The preparation process has already begun, the objective is to have Somoil on the stock exchange by 2025, in Angola and, perhaps, in another part of the world, it would probably be London," he said.

The official noted the company's intention to internationalize in the coming years, and the strategy is to prioritize Africa "as a matter of risk control and management".

"Whenever we look at opportunities, especially outside Angola, we also look at geopolitical risk and contractual stability, we don't want to go to a geography like that of several countries where from one day to the next there are changes in contractual terms, the nationalization of assets, we have to be very selective geographically where we want to go", he stressed.

In addition to geopolitical and contractual stability, added Edson dos Santos, the company also has the assets themselves as indicators.

"But we still believe in Angola, we see a lot of growth in Angola, we continue to think that we will continue to grow in Angola as well, but it is important for a company to have a balanced portfolio, including geographically, that is why we also want to go international", he said.

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