Ver Angola

Banking and Insurance

Sonangol raises 20,197 million kwanzas with the sale of shares in Caixa Angola

Sonangol raised 20,197 million kwanzas with the sale of the shares it held in Banco Caixa Geral de Angola (BCGA), with demand exceeding supply by 142.02 percent, announced Bodiva.


According to a statement from the Angolan Debt and Securities Exchange (Bodiva), the share price was fixed at five thousand kwanzas for the general public, corporate bodies and workers, who could access 10 percent of the capital, and 3399 kwanzas for the Angolan shareholders to whom the remaining 15 percent was reserved.

In total, the offerors (Sonangol EP and Sonangol Holding, state-owned oil companies) raised the amount corresponding to 20,197 million kwanzas.

Demand exceeded supply by 142.02 percent, with purchase orders having been considered with the final unit price of the offer and 693 of the 706 subscribers being covered.

Of the investors contemplated, 600 belonged to the general public, 91 to workers and governing bodies and the other two were Angolan shareholders who already held 12 percent of the bank each (businessmen Jaime Freitas and António Mosquito).

On the 29th of September, the shares will be admitted to trading on Bodiva.

This is the second listing this year, after the operation launched by Banco Angolano de Investimento (BAI), in which the State also sold the shares it held through Sonangol and the state-owned diamond company Endiama.


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