State to sell 30% of the capital of Angola’s BODIVA stock exchange

Image: DR

The Institute for Management of State Assets and Participation (IGAPE) has just announced the launch of a tender for the sale of 30% of the capital of the Angolan Debt and Securities Exchange (BODIVA).

The shares will be sold via a limited tender by prior qualification, according to a statement from IGAPE.

Applications must be submitted by 23 September, 2022.

The tender provides for the sale of 30,000 shares with a nominal value of 9,000 kwanzas (20.5 euros) representing 30% of BODIVA, grouped into 60 lots of 500 shares each. Each bidder may acquire up to a maximum of 19 lots, and a dispersion of the shares of at least 50% of the bidders submitting valid bids must be guaranteed.

The shares will be subject to a non-availability regime and may not be sold to third parties (i.e. to any entities that are not members of BODIVA), and/or encumbered and/or charged, from the date of their acquisition by the bidders until the date of the opening of the second phase of the privatisation process of BODIVA, according to the specifications.

The successful bidders are required, within a maximum period of 10 days from the date of the respective award, to provide a bond in the amount of 5% of the price relating to the shares to be purchased, and IGAPE may use this bond, without the need for prior consent, to pay any amounts due for non-fulfilment or defective fulfilment of the obligations that the bond guarantees.

BODIVA is a public limited company involved in the management of regulated markets in Angola, providing services relating to the issue and trading of securities and other instruments, the preparation, distribution and marketing of information relating to financial instruments markets, as well as computer programmes for the contracting and transmission of orders or data, within the scope of the capital markets.

08/09/2022