The National Diamond Company of Angola (ENDIAMA) will be transformed this year into a Joint-Stock Company (S.A.), marking steps toward its partial privatization and subsequent listing on the Stock Exchange, a process expected to be completed only in 2027, confirmed Novo Jornal along with the chairman of the board, Ganga Júnior.
The privatization and listing of the company on the stock exchange have been administratively prepared for two years.
A Joint-Stock Company, or S.A., is a legal structure primarily characterized by its division into shares. This means that participation is the responsibility of each shareholder (stockholders) and is entirely tied and limited to the issuance price of the shares they acquire.
The CEO of ENDIAMA states that for the company to be listed on the stock exchange, it must become a Joint-Stock Company (S.A.). However, he assures that efforts are being made cautiously to address some details to provide proper conditions for the employees.
According to Ganga Júnior, one of ENDIAMA’s priorities is the quantification of reserves across all companies and concessions, aiming to achieve the goal of dispersing the company’s capital on the stock exchange by 2027.
Furthermore, the transformation into a Joint-Stock Company will allow some foreign institutions in the sector, which are not competitors of ENDIAMA, to acquire stakes in the company.
The partial privatization of the company, according to the CEO, depends solely and exclusively on the Executive.
It is important to highlight that for the stock exchange listing, the diamond company will need to disperse 30% of its capital as part of the preparation process.
According to the activity balance report for 2023, ENDIAMA’s exit from “non-core” businesses is part of the company’s restructuring agenda and its entry into the stock exchange.
Still, within the scope of ENDIAMA’s restructuring and stock exchange exposure, it is expected to achieve competitive gains for the national industry, with companies capable of competing internationally within a demanding context, says Ganga Júnior.
Novo Jornal, 15/01/2025
