The Angolan Debt and Stock Exchange (BODIVA) approved, on Friday 25th August, in Luanda, the requests for a Special Session to be held on the Stock Exchange and for admission to trading of the private Bonds of the Sociedade Nacional de Combustíveis de Angola, EP (SONANGOL).
As explained in the statement sent to the newsrooms, the Special Session on the Stock Exchange will take place between 9:00 am and 3:00 pm on September 13th and is intended to determine, based on pre-defined apportionment criteria in the prospectus, the results of the offer and will culminate in the publication of the results, on the same day, on the BODIVA website.
Subsequently, and after the physical and financial settlement of the offer, the “Ring the Bell” session will take place on September 15, which will mark the admission and free transaction of Sonangol’s private bonds on the Private Bond Exchange Market “MBOP”.
This bond issue represents a significant milestone in the development of the Angolan Capital Market, as it materializes the possibility of diversifying the funding sources of a leading national company, as well as providing the market with yet another financial product for diversifying the investment portfolio. ; at the same time that it facilitates the activity of assistance in public offerings by financial intermediaries.
The tabulation of results and admission to trading follow the Public Subscription Offer, which will take place from the 28th of August to the 12th of September, under the terms indicated in the prospectus.
The operation to issue Bonds by the oil company Sonangol aims to raise 75 billion kwanzas from the domestic market at an interest rate of 17.5 percent and is a way of encouraging the bond market.
