Ver Angola

Banking and Insurance

BAI will sell more than 900 thousand shares on the stock exchange

Banco Angolano de Investimentos (BAI) announced this Monday the start of the sale of 972,500 of its own shares on the Angola Debt and Securities Exchange (BODIVA), about five per cent of the bank estimated capital.

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The information is contained in a press release issued by BAI, to which Angop had access. The bank informs that the sale is intended for all interested investors, complying with the terms and limits established by law.

The operation will be available between the 24th of October and the 30th of December, in places such as Intermediation Agents registered with BODIVA, BAI and BAI Directo branch networks (accessible via the Internet in any browser).

With the sale of these 972,500 shares, BAI now holds only three percent of own shares.

It is recalled that the executive chairman of the bank admitted, last Friday, to placing shares on the market again in the next 12 months, "when the moment is opportune". Luís Lélis also added that this has been a learning process both for shareholders and for the bank's investors, stating that there is no definitive decision on the matter.

In June, the bank became the first listed company on the Angolan stock exchange, after the State decided to sell the 10 percent of capital it held indirectly in BAI through the oil company Sonangol and the diamond exploration and marketing company, Endiama.

BAI shares were this Monday touching 55,000 kwanzas, after closing at 54,000 kwanzas in the previous session of Bodiva.

In the first half of the year, the bank recorded a 40 percent rise in profits, hoping to reach 90 billion kwanzas in net income by the end of 2022, according to the institution's own forecasts.

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