The sale of a 30% state stake in Angola’s Debt and Securities Exchange (Bodiva) generated €2.5 million, with demand for shares exceeding supply by 779%.
According to a statement from Bodiva released today following the results of the Public Offering (IPO), the final unit price of the shares was set at 13,259 kwanzas (€13.8), resulting in revenue of approximately 2.4 billion kwanzas (€2.5 million) from the sale of the 180,000 shares made available.
Demand for the shares exceeded supply by 778.94%, resulting in an allocation ratio of 13.06%.
Out of 2,755 subscription orders, 2,198 were successful, leading to the inclusion of 1,869 new shareholders in Bodiva. These shares will be traded on the stock market starting December 11.
Walter Pacheco, CEO of Bodiva, emphasized in the statement that the results, “particularly the highest demand-to-offer ratio in the history of IPOs conducted,” reflect growing confidence in Angola’s capital market and specifically in the development of the Angolan Stock Exchange.
The transaction is part of Angola’s privatization program, which aims to divest state-held assets through Public Offerings on the Stock Exchange.
Lusa, 12/09/2024
