LUANDA, Sept 5 – Angola has approved the public sale of a 34% stake in Standard Bank de Angola, clearing the way for the lender’s planned stock market debut and advancing the government’s disposal of shares previously seized from businessman Carlos São Vicente.
The Capital Market Commission (CMC) authorised the sale of 4.76 million shares, equivalent to 34% of the bank’s share capital, according to documents released by the regulator.
The public offering is scheduled to run from September 11 to September 25, with trading on Angola’s BODIVA exchange expected to begin on September 30.
The stake forms part of the 49% holding currently controlled by the Angolan government after authorities seized the shares from São Vicente, a former insurance businessman. Standard Bank Group owns the remaining 51% of Standard Bank Angola.
Under the terms of the offering, Standard Bank Group has retained the right to acquire an additional 24% of the Angolan subsidiary. The offer document allocates 24% of the shares being sold to Standard Bank Group, while the remaining 10% will be made available to public investors.
The offer price has been set within a range of 41,220 kwanza to 50,000 kwanza per share, equivalent to about $45.16 at the lower end based on the figures provided.
The transaction represents another step in Angola’s efforts to broaden participation in its capital markets while reducing the state’s direct ownership of commercial assets. The planned listing would also give investors an opportunity to acquire shares in one of the country’s established banking institutions through the domestic exchange.
The structure of the transaction means Standard Bank Group could further increase its ownership in the Angolan lender, while public investors would gain access to a portion of the shares through the BODIVA market.
The September offering and subsequent trading debut will therefore be closely watched as Angola continues efforts to deepen its capital market and expand the role of private investors in the country’s financial sector.
