Ver Angola


Sonangol raises 75 billion kwanzas with public offering for subscription of bonds on the stock exchange

The Angolan Debt and Stock Exchange (Bodiva) announced that the oil company Sonangol raised 75 billion kwanzas resulting from the public subscription offer for its 2023-2028 bonds to the stock exchange.


Demand reached an amount of 83.9 billion kwanzas as a result of a demand for 8,395,665 units, but the amount allocated was only 7,500,000 bonds, which allowed the collection of 75 billion kwanzas.

According to Bodiva, the special regulated market session to determine the results of the public subscription offer for the state oil company's 7,500,000 bonds took place on Wednesday.

The demand for Sonangol bonds had a ratio over supply of 119.94 percent, which guaranteed the issuer the collection of a total amount of the offer of 75,000,000,000 kwanzas, with 10,000 kwanzas for each nominal unit.

According to Bodiva, the demand for the oil company's 7,500,000 bonds also ensured compliance with the screening criteria under the terms of the prospectus and that all 1,486 investors who submitted valid orders were included in the allocation.

Sonangol 2023-2028 bonds will be admitted to trading on the Private Bond Exchange Market "MBOP", on Friday, "from which time any investor will be able to buy and sell them, through any financial intermediary, Bodiva member ".

The announcement of the offer and publication of the bond prospectus took place on August 8th and, from August 28th to September 12th, the subscription period ran.

Bodiva's schedule states that the financial and physical settlement of obligations will take place this Thursday, the day before admission to trading via MBOP.

Sonangol is the first non-financial company to admit private bonds on the stock market.


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