Banco Caixa Geral Angola announces, today, in Luanda, the result of the Initial Public Offering (IPO), launched on 5 September for the sale on the stock exchange of 25 percent of the shares held by Sonangol.
According to the prospectus, the final price of the Initial Public Offer for Sale to the Public was set at a maximum limit of 5,000 kwanzas. “The final price of shares destined for Público in the Initial Public Offer for Sale of Banco Caixa Geral Angola, S.A, representing 25 percent of Sonangol’s stake in BCGA, was set at 5,000 kwanzas, the upper limit of the price range defined in the Prospectus of the operation”, reads a bank note to which Jornal Economia & Finanças had access. The document also mentions that the price of the shares reserved for Angolan shareholders in the same IPO remains fixed at 3,399 kwanzas described in the Prospectus. After this Thursday’s announcement, under the terms set out in the IPO Prospectus, and in order for BCGA shares to be allocated to the investor, it will be necessary that the “price indicated in the declaration of acceptance (purchase order) is equal to or greater than at the final price of the offer addressed to the public of 5,000 kwanzas”.
In this sense, “after defining the price, if the price indicated in the declaration of acceptance is equal to the final price of the offer addressed to the public Kz 5,000, the amount of shares to which he will be entitled will be allocated, which may be less than the amount placed in the acceptance declaration or purchase order, according to the apportionment to be carried out”.
Caixa Angola, in the document, explains that if the price stated in the declaration of acceptance (purchase order) is lower than the final price of the offer addressed to the public, Kz 5,000, the investor will not be entitled to any shares. As for the physical and financial settlement of the shares sold within the scope of this IPO, it should take place tomorrow, the 23rd, and the admission to trading on the Angola Debt and Securities Exchange – Sociedade Gestora de Mercados Regulamentodos, S.A. next Thursday the 29th. Banco Caixa Geral Angola is headquartered in Luanda and is the first private banking institution to operate in the Angolan market after independence. It is present in eight provinces of Angola, supported by a network of more than 30 branches and a team of more than 500 professionals, committed to society and to the delivery of value-added services, based on the usual values, such as responsibility , rigor, safety, integrity and respect, contributing daily to the economic, sociocultural and sustainable enrichment of the country, through actions that are based on economically viable principles and of added value for society.
