Angola’s stock exchange, Bodiva, has registered 11,264 new shareholders following the completion of Unitel’s public share offering, the bourse’s president said, describing the result as the largest such operation ever conducted on the Angolan capital market.
According to Bodiva President Cristina Lourenço, the outcome of the operation ‘unequivocally expressed’ the confidence of both Angolan and foreign investors in the capital market, its regulatory bodies, the exchange’s management entity, market participants and the listed asset itself.
‘Demand for the seven million five hundred thousand ordinary Unitel shares far exceeded supply, with a coverage ratio of approximately 120% — an operation worth 300 billion kwanzas — representing a clear signal of investor confidence in the company and in the growth potential of the Angolan capital market,’ Lourenço said.
The 11,264 new shareholders will participate directly in the capital of one of Angola’s largest companies, Lourenço noted. She added that this sixth public offering of shares has become the biggest ever conducted on the exchange, surpassing the previous record set by Banco de Fomento de Angola (BFA).
Lourenço also praised Unitel’s transparent and open response to the cyberattack it suffered on Tuesday, noting that the company had promptly informed both its investors and the public about the incident, demonstrating ‘its commitment to its duty of disclosure’.
The Bodiva president assured stakeholders that Angola’s capital market possesses all the regulatory and technological conditions required to support a dynamic, secure and efficient stock exchange, both now and into the future.
‘To Unitel’s investors, as well as to all other companies already listed on the exchange, we reaffirm our continued commitment to maintaining a bourse where assets can be freely traded with security and efficiency,’ Lourenço said.
She also clarified the mechanics of the transition to secondary market trading: ‘Now that the shares have been issued on Bodiva’s secondary market, they are freely tradeable. Investors who bought in the primary market have the prerogative to define their own investment strategy — some buy to hold, and some buy to trade afterwards.’
When asked whether the cyberattack on Unitel had prompted consideration of postponing the ‘Ring the Bell’ listing ceremony, Lourenço acknowledged that the situation had been assessed. However, given the company’s weight in the economy and its ‘years of history,’ and given that Unitel met and continues to meet all listing requirements at the time of its admission application, the decision to proceed was upheld.
Unitel’s public offering of 15% of the company’s ordinary shares ran from 6 to 24 July.
Source: Notícias ao Minuto / Original article: https://www.noticiasaominuto.com/economia/3029224/bolsa-angolana-destacou-entrada-de-novos-11-264-acionistas-da-unitel#utm_source=rss-economia&utm_medium=rss&utm_campaign=rssfeed
