Standard Bank Angola's shares were admitted to trading on the equity market of Angola's BODIVA exchange on 30 September. The admission followed the sale of a 34% state holding and completes the bank's transition to a listed company. A ring-the-bell ceremony in Luanda marked the start of regulated secondary-market trading.
The state offered 4.76 million ordinary shares under Angola's privatisation programme. The offer reserved a 24% holding for South Africa's Standard Bank Group and 10% for the public. Angola's Capital Market Commission approved the offer in early September, with trading expected to begin on 30 September.
A NEW LISTED BANK
State news agency ANGOP reported that the admission made Standard Bank Angola the seventh company listed on the exchange and the fourth from the banking sector. The other listed companies are BAI, Banco Caixa Geral Angola, ENSA, BODIVA, Banco de Fomento Angola and Unitel, according to ANGOP. All 14 million ordinary shares representing the bank's capital were scheduled for admission, according to the regulatory offer notice.
The sale brought 6,215 new shareholders into the bank, Expansão reported. It said total demand reached 403.4 billion kwanzas, equal to 181.96% of the offer. Demand from the public tranche was 378.66% of the shares made available to that segment.
OWNERSHIP AFTER THE SALE
The transaction raised 208.5 billion kwanzas from the 34% stake sale, Expansão reported. Standard Bank Group's additional 24% lifts its holding from 51% to 75%, while public investors hold 10%. The Angolan state retains a 15% minority interest.
Investors can now buy or sell the shares through a BODIVA member intermediary, ANGOP reported.