Ver Angola

Economy

Sale of 30 percent of ENSA's capital should be worth nine billion kwanzas to the State

Angolan state insurer ENSA will sell 30 percent of its capital via the stock exchange, through a Public Offering of 720,000 shares at a price between 6500 and 12,500 kwanzas, with the expectation of raising nine billion kwanzas.

:

The Initial Public Offering (IPO) of shares in the National Insurance Company of Angola (ENSA) began on Tuesday and will run until 25 October, as announced by the authorities on Thursday at the presentation of the 'roadshow' (a travelling event to publicise the sale) in Luanda.

This sale of 30 percent of the share capital of ENSA held by the State, represented by the Institute for the Management of State Assets and Participations (IGAPE), is part of the Government's Privatization Program.

At least 720,000 ordinary, registered and book-entry shares, with a nominal unit value of 5000 kwanzas, representing 30 percent of the state capital in ENSA, are to be distributed over a period of one month via the Angolan Debt and Securities Exchange (BODIVA).

For this process, 28 percent of the share capital, comprising 672,000 shares, is reserved for the purpose of the offer directed to the general public and 2 percent of the share capital (48,000 shares) for acquisition by employees (Offer Directed to Employees), explained the chairman of the ENSA executive committee, Mário de Lemos.

The shares in the IPO will be sold at an average unit price within the range of a minimum of 6,499.80 and a maximum of 12,499.80 kwanzas, and the final price of the offer will be set based on the price at which demand within the scope of the offer equals or exceeds the offer directed to the general public within the range of the aforementioned prices.

Purchase orders for participation in the IPO must be submitted to the intermediary agents for placement, namely Standard Invest, BFA Invest and Áurea – Sociedade Distribuidora de Valores Mobiliários.

The chairman of the executive committee of Standard Invest, Dinis Mendes, highlighted, in a press conference, that the State should raise nine billion kwanzas with the sale of 30 percent of the share capital of ENSA.

"And, naturally, everything will vary according to supply and demand, as described", he stressed.

Mário de Lemos, chairman of the executive committee of ENSA, recalled that the offer is open to all national and foreign investors, stating that, with this action, the company pursues strategic objectives, namely real profitability, operational and financial efficiency.

"We want to continue to provide solutions for the insurance market in order to increase the value of the organization, we will also expand our client base", he noted.

The head of the IGAPE privatization department, Hortêncio Sanumbutue, highlighted the importance of privatizing part of ENSA's capital, guaranteeing, without giving any dates, that the State intends to "progressively" disperse the remaining shares to exit the insurer's capital.

The physical and financial settlement of the shares sold in the IPO is expected to take place on 31 October.

Related

Permita anúncios no nosso site

×

Parece que está a utilizar um bloqueador de anúncios
Utilizamos a publicidade para podermos oferecer-lhe notícias diariamente.