Ver Angola

Banking and Insurance

State raises 2.4 billion kwanzas from sale of 30 percent of its stock market stake

The sale of the 30 percent state stake in the Angola Debt and Stock Exchange (Bodiva) yielded around 2.4 billion kwanzas, with demand for shares exceeding supply by 779 percent.

: Expansão
Expansão  

According to a statement from Bodiva, released this Monday after calculating the results of the Public Offering (OPV), the final price of the offer, the final unit price of the offer was set at 13,259 kwanzas, which resulted in revenue of around 2.4 billion kwanzas, with the sale of the 180,000 available shares.

Demand for the shares exceeded supply by 778.94 percent, translating into a share ratio of 13.06 percent.

Of a total of 2755 subscription orders, 2198 were granted, which will result in the inclusion of 1869 new shareholders in Bodiva, whose shares will be admitted to trading on the stock market from December 11th.

Quoted in the statement, the president of the Executive Committee of BODIVA, Walter Pacheco, highlighted that the results obtained, "with emphasis on the highest demand/supply ratio in the history of OPVs carried out, demonstrate the growing confidence in the Angolan capital market and in particular in the development of the Stock Exchange".

The operation was part of the privatization program that aims to sell assets held by the State via Public Offers of Sale, on the Stock Exchange.

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