Luanda: The Angolan State anticipates generating 300 billion kwanzas through the Initial Public Offering (IPO) of 7.5 million shares, which constitutes 15% of UNITEL's share capital. This was disclosed during a press event in Luanda by Paulo Gra§a e Silva, an executive at BFA Capital Markets, at the launch ceremony for UNITEL's IPO, marking a significant milestone in Angola's telecommunications sector.
According to Angola Press News Agency, Paulo Gra§a e Silva, speaking on behalf of the transaction's intermediary firm, indicated that the shares are priced between 36,000 and 43,000 kwanzas. He highlighted that this is the largest public offering recorded in Angola to date, surpassing Banco Angolano de Investimento's (BAI) 2022 offering, which generated just over 120 billion kwanzas.
UNITEL's entry into the Angolan capital market is noteworthy as it becomes the first non-financial sector company to be listed, setting a precedent for other telecom companies. Angolan citizens and foreign residents are eligible to subscribe to the IPO, provided they have a Tax Identification Number (NIF), a local bank account, a custody account with intermediary agents, and sufficient funds for the transaction.
The demand for UNITEL shares is expected to be strong, fueled by interest from individual, corporate, and institutional investors. The IPO, part of the Privatization Program (PROPRIV), is open until the 24th of this month, targeting both employees and the general public. Specifically, 1,000,000 shares, representing 2% of the company's capital, are reserved for employees, while 6,500,000 shares, representing 13%, are available to the general public.
With over 21 million customers and a strong nationwide presence, UNITEL is a prominent brand in Angola. The IPO offers millions of Angolans the opportunity to invest in UNITEL alongside current shareholders IGAPE and Sonangol, thereby contributing to the company's growth.
The launch event witnessed participation from representatives of the Angolan Insurance Regulation and Supervision Agency (ARSEG), the Institute for the Management of State Assets and Participations (IGAPE), UNITEL, the Capital Market Commission (CMC), the Angola Debt and Securities Exchange (BODIVA), and financial intermediaries BFA Capital Markets (BFACM), urea, and Banco Caixa Geral Angola (BCGA).
Currently, the Angolan stock exchange lists five financial sector companies: BAI, ENSA, Banco Caixa Geral Angola, BFA, and BODIVA.
