Luanda, Dec. 10, 2024 (Lusa) - The sale by the Angolan state of its 30% stake in the Angolan Debt and Securities Exchange (BODIVA) brought in around 2.4 billion kwanzas (€2.5 million), with demand for the shares almost nine times supply.

According to a statement from Bodiva, released on Monday evening after the results of the public offering were finalised, the final unit price of the offer was set at 13,259 kwanzas (€13.80), which resulted in 2.4 billion kwanzas in revenue from the sale of the 180,000 shares on offer.

Demand for the shares exceeded supply by 778.94%, resulting in an apportionment ratio of 13.06%.

Of a total of 2,755 subscription orders, 2,198 were accepted, which will result in the inclusion of 1,869 new shareholders in Bodiva, shares in which are to be admitted to trading on the stock exchange from 11 December.

Quoted in the statement, BODIVA's CEO, Walter Pacheco, emphasised that the results obtained, "with emphasis on the highest demand/supply ratio in the history of IPOs carried out, demonstrate the growing confidence in the Angolan capital market and in particular in the development of the Angolan Stock Exchange."

The operation was part of a broader government privatisation programme which aims to sell assets held by the state via public offerings on the stock exchange.

RCR/ARO // ARO.

Lusa