Ottoniel dos Santos, who was speaking at the stock exchange listing session of Angola's most recently listed company, the state-owned insurance company ENSA, which joins banks BAI and Caixa Angola on the stock market this Wednesday, highlighted the success of the operation, which followed to a failed sale attempt by public tender, before ENSA decided to open 30 percent of its capital to the public.
The executive highlighted that the sale of state holdings on the stock exchange has been successful, as more than 70 billion kwanzas raised in privatizations came from stock exchange operations.
"Of all the offers placed on the stock exchange of the three listed companies, the average demand is above 158 percent", he highlighted.
In June 2022, the State sold 10 percent of the capital it held in BAI for 40 billion kwanzas, making it the first listed company on the Angola Debt and Stock Exchange (Bodiva).
Banco Caixa Geral Angola (BCGA) was the second company to enter the Angolan stock exchange, with an initial public offering of 25 percent of the shares held by Sonangol, which yielded around 25 billion kwanzas.
The most recent Public Offer for Sale, that of ENSA, guaranteed an additional 8.9 billion kwanzas to the state coffers.
"The numbers for this operation are quite encouraging", he highlighted, pointing out the more than 1800 purchase orders, a coverage rate of 174 percent and demand in 14 provinces.
Ottoniel Santos pointed out that the fact that the state insurance company currently has more shareholders (1150 investors) signals investors' confidence in the capital market and added that the executive will continue promoting reform of the public business sector, with more transparency and competitive opportunities.
Placing companies on the stock exchange, he highlighted, is a way of allowing the State to reduce its participation as an economic agent, strengthen the capital market and create investment alternatives.
