According to the announcement published in Jornal de Angola and consulted by Lusa, the agenda has only two points: to decide on the amendment of the company's articles of association for the purposes of its qualification as a public company and to decide on the sale of own shares.
BAI's structure is made up of 54 shareholders, none of whom holds qualified stakes, with Sonangol standing out as the main shareholder with 8.50 percent of the capital
Other shareholders are Oberman Finance Corp (5.00 percent), Dabas Management Limited (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 unidentified 'Others', who share the remaining 54.88 percent of the capital.
The Angolan government's Privatization Program provides for the sale of Sonangol's stakes in sectors such as insurance and banking and BAI's exit was initially planned for 2020, but the public tender never went ahead.
BAI, Angola's largest bank in terms of assets, has recognized, since 2017, own shares with a nominal value corresponding to 5 percent of the share capital.
