"Banco Caixa Geral Angola (BCGA) has just released the prospectus for the Initial Public Offering (IPO) of the 25% of shares held by Sonangol, approved by the Capital Markets Commission (CMC)", he said in a statement.
According to Banco Caixa Geral Angola, the approval of this prospectus certifies its legal compliance.
On the other hand, it allows the process to enter the final phase.
In question is a document that includes "the bank's most important information and investment conditions", such as the type of shares, payment, management team, market, financial information and subscription agreement.
On 29 March, the President approved the privatization of the shareholding that the State indirectly holds in BCGA, through Sonangol EP with 24 percent and Sonangol Holdings Limitada with 1 percent.
João Lourenço, in presidential order no. 64/22 of 25 March, already published in Diário da República and to which Lusa had access, states that the sale of State assets in BCGA will be through an IPO on the Angolan Debt and Securities Exchange (Bodiva).
The privatization process "must comply with the corporate rights enshrined in the other shareholders, in accordance with the agreements entered into for the exercise of the preemptive right over the 15 percent of the shares representing the bank's share capital".
According to the President, a percentage of 2 percent of the shares representing the share capital "must be reserved for acquisition under special conditions by workers, under the terms of the law".