Luanda - The Secretary of State for Finance and Treasury, Ottoniel dos Santos, said Wednesday in Luanda that the sale of 30% of the shares of the Angola Securities Exchange (BODIVA) sends a clear signal of commitment to the democratization of capital and the strengthening of the financial system.
Speaking at the ceremony to admit BODIVA shares to trading on the Stock Exchange Market (MBA), the Secretary of State pointed out that with the sale of the 180,000 shares planned, at a price of 13,259 kwanzas per share, the state has raised more than two billion kwanzas in revenues.
‘This amount is not only a demonstration of financial success, but also an indicator of the transformative potential of privatizations for strengthening the economy,’ the official said.
Ottoniel dos Santos highlighted the role of the Stock Exchange as one of the essential pillars of a modern and resilient economy, as well as playing a central role in mobilizing savings, financing strategic projects, diversifying the economy and creating wealth and jobs.
‘A dynamic and inclusive stock market is an engine of sustainable growth, capable of attracting investment, generating income and promoting entrepreneurship,’ Santos said.
The Secretary of State said the Privatization Program (PROPRIV), which includes this operation, as well as a strategy for public assets sale, is a bet on the private sector's ability to lead the way in creating value and innovation.
BODIVA's CEO, Valentina Filipe, on his turn, said the sale of 30 percent of BODIVA's share capital on the market, with demand that exceeded expectations, is proof of its importance in the Angolan financial system and of the company's credibility.
She explained that as a listed company, BODIVA has a responsibility to continue to be an example of good governance, transparency and dynamism in the capital market.
BODIVA, she said, has the opportunity to enjoy, as of today, a stronger position to foster relations and cooperation with international counterparts, especially in Africa and Europe, as well as attracting the interest of international investors.
‘We will remain committed to implementing the strategic plan, with a focus on increasing market capitalization, attracting new issuers and broadening the investor base,’ Valentina Filipe said.
With the admission of the shares to trading on the Stock Exchange Market they become freely tradable and all investors will be able to place their sell and/or buy orders through BODIVA members.
BODIVA, as the Regulated Market Management Company, held the special market session to determine the results of the Public Offer for Sale of 30% of its share capital and the submission period, which took place from November 19 to December 6, 2024.
The final unit price of the offer, at which point demand equaled or exceeded supply, was set at Kz 13,259.00, resulting in a total amount raised of 2.3 billion Kwanzas from the sale of 180,000 shares.
At this price, demand for the shares exceeded supply by 778.94 percent, translating into an apportionment ratio of 13.06 percent.
Of a total of 2,755 submissions, at least 2,198 were accepted, which will result in the inclusion of 1,869 new shareholders into BODIVA after the financial settlement.HM/ASS/AMP
