Banco Caixa Geral Angola (BCGA) is the second company to enter the Angolan stock market, with an initial public offering of 25% of Sonangol’s stake, expected to bring around €60 million to the national oil company. expected.

The operation, which will run until September 16, was announced in Luanda.

A sale of 5,000,000 shares is being contested at a price range of K4,250 to K5,000 (€9.9 to €11.7), offering cash inflows of up to Kz25 billion (€60 million) to the state of Angola via Sonangol.

BCGA Chairman Francisco Rosado dos Santos has positively evaluated Angola’s banking market, which has developed “very rapidly” and is currently in submission to the European Supervisory Framework (Basel 3). Banking Control, Transparency and Governance”.

It also means that Angola’s financial markets will become more attractive to international banks.

BCGA will be Angola’s second company and second bank to be listed after Banco Angolano de Investimentos (BAI) was listed on the Angola Debt Securities Exchange (BODIVA) in June.

25% of the capital is targeted to three groups of investors. 15% of the capital is current Angolan shareholders, 2% employees and members of the corporate body and 8% the general public.

Rosado dos Santos believes this price is suitable for the dynamism of the market. ) to do so without causing great discomfort to their personal finances. ”

The Portuguese state via Caixa Geral de pósitos is Caixa Angola’s largest shareholder, with the remaining capital comprising Angolan entrepreneurs António Mosquito and Jaime Freitas (12% each), Sonangol EP (24%) and Sonangol Holding. I’m here.

Investors may amend or cancel their purchase orders until September 12th, and the shares are expected to trade on the stock exchange on September 29th.

The sale of Sonangol shares is part of the Angola National Privatization Program (ProPRIV), with 125 companies and assets out of 178 schemes already privatized, said Ednilson Sousa, head of the property management and state holdings agency. said Mr. (Igape).

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