Luanda: The public offering of 29.75% of Banco de Fomento Angola (BFA) shares on the stock exchange concluded last week, raising 242 million U.S. dollars, marking the largest transaction in Angola and Africa this year.
According to Angola Press News Agency, this transaction is a landmark achievement for the domestic capital market, demonstrating the growing strength and credibility of African stock exchanges. The size of the offering and significant investor demand highlight confidence in the institution and BODIVA's role as a transparent and secure platform for investment and financing.
The demand for the 4.4 million BFA shares sold on the primary market reached a bid-to-bid coverage ratio of 506.37%, with a peak of 1.1 billion U.S. dollars. The offer coverage ratio was 1.09, satisfying 10,300 of the 11,009 registered offers.
This marks the first transaction with international offers, although over 99% of the offering was supported by domestic funds. BODIVA's stock market currently includes five listed companies: Banco Angolano de Investimento (BAI), Banco Caixa Angola (BCA), BFA, the insurance company ENSA, and BODIVA itself. The total market capitalization of the Angolan market is 3.37 billion U.S. dollars.
