According to the president of the institution, part of the Caixabank group, the forecast is that the operation will take place in the first half of 2025, involving an Initial Public Offering of 15% of its stake in the Angolan bank.<\/p>\n
The Portuguese Investment Bank (BPI) is selecting international partners to carry out the Initial Public Offering (IPO) of 15% of its stake in Banco Fomento Angola (BFA), but emphasized that its intention is to exit the company\u2019s capital.<\/p>\n
\u201cWe have already started working groups, together with IGAPE [Institute for the Management of State Assets and Holdings] in Angola, for the preparation of the IPO,\u201d said the bank’s president, Jo\u00e3o Pedro de Oliveira e Costa, during a press conference in Lisbon.<\/p>\n
According to the president of the bank, part of the Caixabank group, the operation is expected to occur in the first half of 2025.<\/p>\n
\u201cWe are in the phase of selecting international advisors who will support us in drafting the actual dossier,\u201d indicated Pedro de Oliveira e Costa, as cited by Lusa.<\/p>\n
Although the bank believes there are interested investors, the Portuguese news agency noted that Jo\u00e3o Pedro Oliveira e Costa stressed that Angola’s inclusion on the FATF’s grey list could be \u201csomewhat limiting\u201d in the process.<\/p>\n
\u201cWe regret that this has occurred, but we will continue on our path,\u201d he emphasized, noting that the Angolan government has been adopting the necessary measures to exit this list.<\/p>\n
Even so, Jo\u00e3o Pedro Oliveira e Costa reiterated that BPI’s goal is \u201cduring this process and afterwards, to sell 100% of the position\u201d it holds in BFA. \u201cWe see the IPO as a path to exit the position we have, which has been announced multiple times,\u201d he said.<\/p>\n
Considering that the African market can pose some challenges to a heavily regulated sector like banking, the bank president admitted that he sees \u201cgreat difficulty in the emergence of international investors from the same sector.\u201d<\/p>\n
The Angolan state indirectly holds 51.9% of BFA\u2019s shares through the telecommunications operator Unitel, while the remaining 48.1% of the bank\u2019s capital belongs to the Portuguese group BPI, which has previously tried to reduce its stake in the Angolan banking institution.<\/p>\n
The IPO is expected to result in the stock market entry of the equivalent of 30% of BFA’s shares. These shares should be sold through an operation on the Angolan Debt and Securities Exchange (Bodiva).<\/p>\n
Initially planned for the 2019-2022 period, with a total of 195 public assets to be privatized, the PROPRIV \u2013 Angola Government’s Privatization Program \u2013 was extended to the 2023-2026 period through Presidential Decree No. 78\/23 of March 28.<\/p>\n
BPI presented today the results for the third quarter of this year, with accumulated profits of 444.1 million euros since the beginning of the year, a 14% increase year-over-year.<\/p>\n
According to the Portuguese Investment Bank, BFA contributed approximately 39 million euros to the group\u2019s net income, a decrease of 8% compared to the same period in 2023, which Jo\u00e3o Pedro Oliveira e Costa attributed to the devaluation of the Angolan currency, the kwanza.<\/p>\n","protected":false},"excerpt":{"rendered":"
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