ACREP (Exploração Petrolífero SA), positioning itself as Angola’s second-largest private oil company with onshore operations, achieved a significant milestone with its recent public offering for sale (OPV) of shares on the stock exchange, securing a revenue exceeding 5.409 million kwanzas.
The demand for shares reached 24.04 percent of the total supply, showcasing investor interest in the company.
The Angolan Debt and Securities Exchange (Bodiva) announced the results of the OPV, revealing that 72,121 of the 300,000 shares offered were traded at a price of 75 thousand kwanzas per share.
Following the operation, 447 investors became shareholders, including 26 employees and 421 members of the general public. All purchase orders were considered at the final unit offer price of 75 thousand kwanzas.
A Bodiva source emphasized that despite not meeting expectations of oversubscription, the operation should not be deemed unsuccessful, attributing the results to a combination of factors including limited awareness of ACREP’s assets and prevailing economic conditions.
Comparatively, the demand for ACREP shares falls short of past public offerings, such as Sonangol’s bond subscription with a coverage ratio exceeding 111 percent and Banco Angolano de Investimento (BAI) shares with a ratio of 1.58 times.
The source noted that these variations highlight the challenges posed by market perception and economic context.
Nevertheless, the ACREP IPO underscores the vibrancy of Angola’s stock exchange market and the readiness of operational systems to provide financing solutions, signaling positive momentum for future investments and market developments.
