Angola completed the sale of its 34% holding in Standard Bank Angola for Kz208.5 billion, according to results published by the Angolan exchange BODIVA. The disposal covered 4.76 million shares. It completed a state divestment previously approved under Angola's privatisation programme.
Standard Bank Group acquired the reserved 24% tranche, increasing its holding in the Angolan lender from 51% to 75%. Public investors received the remaining 10%, while state asset manager IGAPE retained 15%. The offer brought 6,215 new shareholders into the bank.
DEMAND EXCEEDED THE OFFER
Total orders reached Kz403.4 billion, equivalent to 181.96% of the shares offered. Demand for the public tranche reached 378.66% of the available stock. Orders for that tranche were therefore scaled back.
Standard Bank Group bought 3.36 million shares at Kz41,220.24 each, generating Kz138.5 billion for the state. The 1.4 million public shares were priced at Kz50,000 each and produced Kz70 billion.
OWNERSHIP SHIFTS BEFORE TRADING
The completed sale removes the state's direct 34% block while leaving IGAPE with a minority holding. Standard Bank Group, already the majority shareholder with 51%, now holds three quarters of the lender's capital. The listing makes Standard Bank Angola the seventh company listed on Angola's stock exchange since 2022, according to Reuters.
Standard Bank Angola's shares were scheduled to begin secondary-market trading on BODIVA on 30 September.