Angola Stock Exchange is finally set for it's first IPO 8 years after it was established.
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The IPO would be launched on June 9, 2022 by Angola's largest bank Banco BAI, which is majority-owned by state-owned oil company Sonangol and diamond producer Endiama E.P.
In a statement released via its website, Banco BAI explained that both Sanongol and Endiama E.P will collectively issue 10% of their shares during the IPO. The shares will be priced at $41.75 each, bringing Banco BAI's valuation to $972 million.
In a statement released via its website, Banco BAI explained that both Sanongol and Endiama E.P will collectively issue 10% of their shares during the IPO. The shares will be priced at $41.75 each, bringing Banco BAI's valuation to $972 million.
