Luanda- The bond debt securities of the national oil company - Sonangol 2023/2028, totaling 7. 5 million entered into negotiations Friday (15) on the Angolan Debt and Stock Exchange (BODIVA), where the company seeks for financing.
With 1,486 investors submitting valid orders, the demand was greater than the supply, which initially stood at 75 billion kwanzas.
Demand amounted to Kz 83.95 billion, that is, more Kz 8.95 billion.
At least 76 companies and 1,410 individuals from 15 of the country's 18 provinces participated in the race.
The provinces of Luanda (91.25%), Huíla (6.30%) and Huambo (1.03%) stood out.
The ceremony for Sonangol's bond debt to enter the Stock Exchange was symbolised with the ringing of the bell.
The event was honoured by the minister of Finance Vera Daves in the presence of market members.
After the physical and financial settlement of the bonds sold with rates of 17.5% paid semi-annually, the act marks the admission of the second national company, after Standard Bank Angola entered the stock market in 2018, to finance itself through the stock market.
On the occasion, the CEO of BODIVA, Valentina Filipe, stated that the bond issue represents a significant metric of the development of the capital market in Angola.
Valentina Filipe also said that the act constitutes a relevant indicator for the growth of the business sector, both public and private, as it materialises the possibility of diversifying sources of financing for national reference companies.
On the same occasion, the executive director of Sonangol, Joaquim Fernandes, thanked the investors for the trust placed in the oil company.
“We are committed to maintaining high standards of transparent corporate governance to ensure that our investors continue to trust us,” he said. NE/PPA/NIC
