The shareholder structure of Banco Caixa Angola will, from today until next Monday, admit new members, with the opening of the process of dispersing the 25 percent held by Sonangol on the stock exchange.
According to data obtained by Jornal de Angola, the state-owned company leaves the bank’s shareholder role following the Privatization Program (PROPRIV), conducted by the Government, through the Institute for the Management of State Assets and Participations (IGAPE). Banco Caixa Angola’s Initial Public Offering (IPO) covers 5,000,000 shares (out of a total of 20 million) belonging to Sonangol, which represents 25 percent of the share capital and voting rights. The auction is aimed at the general public (8.0 percent), Workers (2.0 percent) and Angolan Shareholders (15 percent), respectively. These indicators represent a breakdown of 1 600 000 actions aimed at the general public; 400,000 shares for the bank’s employees and 3,000,000 shares in favor of Angolan shareholders. The bank explains in the prospectus that the shares will be sold at a unit price between 4,250 and 5,000 kwanzas. As defined, investors can only submit orders within the defined price range, otherwise their buy order will be considered invalid.
The Final Offer Price will be fixed based on the price for which demand equals and or exceeds supply, within the defined price range. If demand is lower than supply, the Final Price of the Offer Addressed to the Public will correspond to the lowest price shown in the purchase orders received, within the range of values mentioned above.
