Angola raises $224m from sale of 34% Standard Bank stake

Angola raised 208.5 billion kwanzas ($224 million) from the sale of a 34 percent stake in Standard Bank de Angola, with investor orders nearly twice the value of shares offered, signalling strong demand for one of the country’s major banking assets. Read also: angola-cuts-rates-to-lowest-since-2016-as-inflation-hits-single-digit Investors submitted orders worth 403.4 billion kwanzas, according to results released by the BODIVA stock exchange in Luanda on Monday, compared with the 208.5 billion kwanzas raised from the offering. The transaction will increase Johannesburg based Standard Bank Group’s ownership of its Angolan subsidiary to 75 percent from 51 percent, strengthening its controlling position in the bank. The Capital Market Commission authorised the sale of 4.76 million shares, representing 34 percent of Standard Bank de Angola’s share capital. Under the structure of the offering, Standard Bank Group was entitled to acquire 24 percent of the shares, while the remaining 10 percent was made available to public investors. ads ads Read also: angola-economy-grows-8-74-as-non-oil-sector-drives-strongest-expansion-in-four-years The transaction therefore combines an increase in Standard Bank’s strategic ownership with wider public participation, as Angola seeks to deepen its domestic capital market and expand investor access to listed companies. The shares were offered at between 41,220 and 50,000 kwanzas each. The strong level of demand points to significant investor interest in Angola’s banking sector and provides the government with proceeds from the disposal of its stake. The sale is part of Angola’s broader programme to dispose of state controlled or recovered assets while developing its capital markets. The shares being offered had previously been seized from businessman Carlos São Vicente. ads ads The offering also advances plans for Standard Bank de Angola’s stock market debut after Angolan authorities approved the transaction, clearing a key regulatory step towards the listing. Read also: angola-targets-global-investors-with-18-6bn-local-bond-market-opening/?amp For Standard Bank Group, the deal increases its exposure to Angola’s financial sector and gives the South African banking group a larger controlling interest in its local business. For Angola, the transaction provides proceeds from the sale of a major financial asset while bringing more shares into public hands and adding momentum to efforts to build a deeper domestic securities market. Related News HURIWA urges South-East governors to unite against insecurity after 28 skulls recovered in Abia NGX Group, Nairobi Exchange chart path to deeper cross-border ties Police arrest robbery, murder suspects, rescue abducted victims across 12 states, FCT Faith Omoboye Faith Omoboye is a foreign affairs correspondent with background in History and International relations. Her work focuses on African politics, diplomacy, and global governance. Share

Read also: angola-cuts-rates-to-lowest-since-2016-as-inflation-hits-single-digit Investors submitted orders worth 403.4 billion kwanzas, according to results released by the BODIVA stock exchange in Luanda on Monday, compared with the 208.5 billion kwanzas raised from the offering. The transaction will increase Johannesburg based Standard Bank Group’s ownership of its Angolan subsidiary to 75 percent from 51 percent, strengthening its controlling position in the bank. The Capital Market Commission authorised the sale of 4.76 million shares, representing 34 percent of Standard Bank de Angola’s share capital. Under the structure of the offering, Standard Bank Group was entitled to acquire 24 percent of the shares, while the remaining 10 percent was made available to public investors. ads ads Read also: angola-economy-grows-8-74-as-non-oil-sector-drives-strongest-expansion-in-four-years The transaction therefore combines an increase in Standard Bank’s strategic ownership with wider public participation, as Angola seeks to deepen its domestic capital market and expand investor access to listed companies. The shares were offered at between 41,220 and 50,000 kwanzas each. The strong level of demand points to significant investor interest in Angola’s banking sector and provides the government with proceeds from the disposal of its stake. The sale is part of Angola’s broader programme to dispose of state controlled or recovered assets while developing its capital markets. The shares being offered had previously been seized from businessman Carlos São Vicente. ads ads The offering also advances plans for Standard Bank de Angola’s stock market debut after Angolan authorities approved the transaction, clearing a key regulatory step towards the listing. Read also: angola-targets-global-investors-with-18-6bn-local-bond-market-opening/?amp For Standard Bank Group, the deal increases its exposure to Angola’s financial sector and gives the South African banking group a larger controlling interest in its local business. For Angola, the transaction provides proceeds from the sale of a major financial asset while bringing more shares into public hands and adding momentum to efforts to build a deeper domestic securities market. Related News HURIWA urges South-East governors to unite against insecurity after 28 skulls recovered in Abia NGX Group, Nairobi Exchange chart path to deeper cross-border ties Police arrest robbery, murder suspects, rescue abducted victims across 12 states, FCT Faith Omoboye Faith Omoboye is a foreign affairs correspondent with background in History and International relations. Her work focuses on African politics, diplomacy, and global governance. Share

Investors submitted orders worth 403.4 billion kwanzas, according to results released by the BODIVA stock exchange in Luanda on Monday, compared with the 208.5 billion kwanzas raised from the offering. The transaction will increase Johannesburg based Standard Bank Group’s ownership of its Angolan subsidiary to 75 percent from 51 percent, strengthening its controlling position in the bank. The Capital Market Commission authorised the sale of 4.76 million shares, representing 34 percent of Standard Bank de Angola’s share capital. Under the structure of the offering, Standard Bank Group was entitled to acquire 24 percent of the shares, while the remaining 10 percent was made available to public investors. ads ads Read also: angola-economy-grows-8-74-as-non-oil-sector-drives-strongest-expansion-in-four-years The transaction therefore combines an increase in Standard Bank’s strategic ownership with wider public participation, as Angola seeks to deepen its domestic capital market and expand investor access to listed companies. The shares were offered at between 41,220 and 50,000 kwanzas each. The strong level of demand points to significant investor interest in Angola’s banking sector and provides the government with proceeds from the disposal of its stake. The sale is part of Angola’s broader programme to dispose of state controlled or recovered assets while developing its capital markets. The shares being offered had previously been seized from businessman Carlos São Vicente. ads ads The offering also advances plans for Standard Bank de Angola’s stock market debut after Angolan authorities approved the transaction, clearing a key regulatory step towards the listing. Read also: angola-targets-global-investors-with-18-6bn-local-bond-market-opening/?amp For Standard Bank Group, the deal increases its exposure to Angola’s financial sector and gives the South African banking group a larger controlling interest in its local business. For Angola, the transaction provides proceeds from the sale of a major financial asset while bringing more shares into public hands and adding momentum to efforts to build a deeper domestic securities market. Related News HURIWA urges South-East governors to unite against insecurity after 28 skulls recovered in Abia NGX Group, Nairobi Exchange chart path to deeper cross-border ties Police arrest robbery, murder suspects, rescue abducted victims across 12 states, FCT Faith Omoboye Faith Omoboye is a foreign affairs correspondent with background in History and International relations. Her work focuses on African politics, diplomacy, and global governance. Share

The transaction will increase Johannesburg based Standard Bank Group’s ownership of its Angolan subsidiary to 75 percent from 51 percent, strengthening its controlling position in the bank. The Capital Market Commission authorised the sale of 4.76 million shares, representing 34 percent of Standard Bank de Angola’s share capital. Under the structure of the offering, Standard Bank Group was entitled to acquire 24 percent of the shares, while the remaining 10 percent was made available to public investors. ads ads Read also: angola-economy-grows-8-74-as-non-oil-sector-drives-strongest-expansion-in-four-years The transaction therefore combines an increase in Standard Bank’s strategic ownership with wider public participation, as Angola seeks to deepen its domestic capital market and expand investor access to listed companies. The shares were offered at between 41,220 and 50,000 kwanzas each. The strong level of demand points to significant investor interest in Angola’s banking sector and provides the government with proceeds from the disposal of its stake. The sale is part of Angola’s broader programme to dispose of state controlled or recovered assets while developing its capital markets. The shares being offered had previously been seized from businessman Carlos São Vicente. ads ads The offering also advances plans for Standard Bank de Angola’s stock market debut after Angolan authorities approved the transaction, clearing a key regulatory step towards the listing. Read also: angola-targets-global-investors-with-18-6bn-local-bond-market-opening/?amp For Standard Bank Group, the deal increases its exposure to Angola’s financial sector and gives the South African banking group a larger controlling interest in its local business. For Angola, the transaction provides proceeds from the sale of a major financial asset while bringing more shares into public hands and adding momentum to efforts to build a deeper domestic securities market. Related News HURIWA urges South-East governors to unite against insecurity after 28 skulls recovered in Abia NGX Group, Nairobi Exchange chart path to deeper cross-border ties Police arrest robbery, murder suspects, rescue abducted victims across 12 states, FCT Faith Omoboye Faith Omoboye is a foreign affairs correspondent with background in History and International relations. Her work focuses on African politics, diplomacy, and global governance. Share

The Capital Market Commission authorised the sale of 4.76 million shares, representing 34 percent of Standard Bank de Angola’s share capital. Under the structure of the offering, Standard Bank Group was entitled to acquire 24 percent of the shares, while the remaining 10 percent was made available to public investors. ads ads Read also: angola-economy-grows-8-74-as-non-oil-sector-drives-strongest-expansion-in-four-years The transaction therefore combines an increase in Standard Bank’s strategic ownership with wider public participation, as Angola seeks to deepen its domestic capital market and expand investor access to listed companies. The shares were offered at between 41,220 and 50,000 kwanzas each. The strong level of demand points to significant investor interest in Angola’s banking sector and provides the government with proceeds from the disposal of its stake. The sale is part of Angola’s broader programme to dispose of state controlled or recovered assets while developing its capital markets. The shares being offered had previously been seized from businessman Carlos São Vicente. ads ads The offering also advances plans for Standard Bank de Angola’s stock market debut after Angolan authorities approved the transaction, clearing a key regulatory step towards the listing. Read also: angola-targets-global-investors-with-18-6bn-local-bond-market-opening/?amp For Standard Bank Group, the deal increases its exposure to Angola’s financial sector and gives the South African banking group a larger controlling interest in its local business. For Angola, the transaction provides proceeds from the sale of a major financial asset while bringing more shares into public hands and adding momentum to efforts to build a deeper domestic securities market. Related News HURIWA urges South-East governors to unite against insecurity after 28 skulls recovered in Abia NGX Group, Nairobi Exchange chart path to deeper cross-border ties Police arrest robbery, murder suspects, rescue abducted victims across 12 states, FCT Faith Omoboye Faith Omoboye is a foreign affairs correspondent with background in History and International relations. Her work focuses on African politics, diplomacy, and global governance. Share

Read also: angola-economy-grows-8-74-as-non-oil-sector-drives-strongest-expansion-in-four-years The transaction therefore combines an increase in Standard Bank’s strategic ownership with wider public participation, as Angola seeks to deepen its domestic capital market and expand investor access to listed companies. The shares were offered at between 41,220 and 50,000 kwanzas each. The strong level of demand points to significant investor interest in Angola’s banking sector and provides the government with proceeds from the disposal of its stake. The sale is part of Angola’s broader programme to dispose of state controlled or recovered assets while developing its capital markets. The shares being offered had previously been seized from businessman Carlos São Vicente. ads ads The offering also advances plans for Standard Bank de Angola’s stock market debut after Angolan authorities approved the transaction, clearing a key regulatory step towards the listing. Read also: angola-targets-global-investors-with-18-6bn-local-bond-market-opening/?amp For Standard Bank Group, the deal increases its exposure to Angola’s financial sector and gives the South African banking group a larger controlling interest in its local business. For Angola, the transaction provides proceeds from the sale of a major financial asset while bringing more shares into public hands and adding momentum to efforts to build a deeper domestic securities market. Related News HURIWA urges South-East governors to unite against insecurity after 28 skulls recovered in Abia NGX Group, Nairobi Exchange chart path to deeper cross-border ties Police arrest robbery, murder suspects, rescue abducted victims across 12 states, FCT Faith Omoboye Faith Omoboye is a foreign affairs correspondent with background in History and International relations. Her work focuses on African politics, diplomacy, and global governance. Share

The transaction therefore combines an increase in Standard Bank’s strategic ownership with wider public participation, as Angola seeks to deepen its domestic capital market and expand investor access to listed companies. The shares were offered at between 41,220 and 50,000 kwanzas each. The strong level of demand points to significant investor interest in Angola’s banking sector and provides the government with proceeds from the disposal of its stake. The sale is part of Angola’s broader programme to dispose of state controlled or recovered assets while developing its capital markets. The shares being offered had previously been seized from businessman Carlos São Vicente. ads ads The offering also advances plans for Standard Bank de Angola’s stock market debut after Angolan authorities approved the transaction, clearing a key regulatory step towards the listing. Read also: angola-targets-global-investors-with-18-6bn-local-bond-market-opening/?amp For Standard Bank Group, the deal increases its exposure to Angola’s financial sector and gives the South African banking group a larger controlling interest in its local business. For Angola, the transaction provides proceeds from the sale of a major financial asset while bringing more shares into public hands and adding momentum to efforts to build a deeper domestic securities market. Related News HURIWA urges South-East governors to unite against insecurity after 28 skulls recovered in Abia NGX Group, Nairobi Exchange chart path to deeper cross-border ties Police arrest robbery, murder suspects, rescue abducted victims across 12 states, FCT Faith Omoboye Faith Omoboye is a foreign affairs correspondent with background in History and International relations. Her work focuses on African politics, diplomacy, and global governance. Share

The shares were offered at between 41,220 and 50,000 kwanzas each. The strong level of demand points to significant investor interest in Angola’s banking sector and provides the government with proceeds from the disposal of its stake. The sale is part of Angola’s broader programme to dispose of state controlled or recovered assets while developing its capital markets. The shares being offered had previously been seized from businessman Carlos São Vicente. ads ads The offering also advances plans for Standard Bank de Angola’s stock market debut after Angolan authorities approved the transaction, clearing a key regulatory step towards the listing. Read also: angola-targets-global-investors-with-18-6bn-local-bond-market-opening/?amp For Standard Bank Group, the deal increases its exposure to Angola’s financial sector and gives the South African banking group a larger controlling interest in its local business. For Angola, the transaction provides proceeds from the sale of a major financial asset while bringing more shares into public hands and adding momentum to efforts to build a deeper domestic securities market. Related News HURIWA urges South-East governors to unite against insecurity after 28 skulls recovered in Abia NGX Group, Nairobi Exchange chart path to deeper cross-border ties Police arrest robbery, murder suspects, rescue abducted victims across 12 states, FCT Faith Omoboye Faith Omoboye is a foreign affairs correspondent with background in History and International relations. Her work focuses on African politics, diplomacy, and global governance. Share

The sale is part of Angola’s broader programme to dispose of state controlled or recovered assets while developing its capital markets. The shares being offered had previously been seized from businessman Carlos São Vicente. ads ads The offering also advances plans for Standard Bank de Angola’s stock market debut after Angolan authorities approved the transaction, clearing a key regulatory step towards the listing. Read also: angola-targets-global-investors-with-18-6bn-local-bond-market-opening/?amp For Standard Bank Group, the deal increases its exposure to Angola’s financial sector and gives the South African banking group a larger controlling interest in its local business. For Angola, the transaction provides proceeds from the sale of a major financial asset while bringing more shares into public hands and adding momentum to efforts to build a deeper domestic securities market. Related News HURIWA urges South-East governors to unite against insecurity after 28 skulls recovered in Abia NGX Group, Nairobi Exchange chart path to deeper cross-border ties Police arrest robbery, murder suspects, rescue abducted victims across 12 states, FCT Faith Omoboye Faith Omoboye is a foreign affairs correspondent with background in History and International relations. Her work focuses on African politics, diplomacy, and global governance. Share

The offering also advances plans for Standard Bank de Angola’s stock market debut after Angolan authorities approved the transaction, clearing a key regulatory step towards the listing. Read also: angola-targets-global-investors-with-18-6bn-local-bond-market-opening/?amp For Standard Bank Group, the deal increases its exposure to Angola’s financial sector and gives the South African banking group a larger controlling interest in its local business. For Angola, the transaction provides proceeds from the sale of a major financial asset while bringing more shares into public hands and adding momentum to efforts to build a deeper domestic securities market. Related News HURIWA urges South-East governors to unite against insecurity after 28 skulls recovered in Abia NGX Group, Nairobi Exchange chart path to deeper cross-border ties Police arrest robbery, murder suspects, rescue abducted victims across 12 states, FCT Faith Omoboye Faith Omoboye is a foreign affairs correspondent with background in History and International relations. Her work focuses on African politics, diplomacy, and global governance. Share

Read also: angola-targets-global-investors-with-18-6bn-local-bond-market-opening/?amp For Standard Bank Group, the deal increases its exposure to Angola’s financial sector and gives the South African banking group a larger controlling interest in its local business. For Angola, the transaction provides proceeds from the sale of a major financial asset while bringing more shares into public hands and adding momentum to efforts to build a deeper domestic securities market. Related News HURIWA urges South-East governors to unite against insecurity after 28 skulls recovered in Abia NGX Group, Nairobi Exchange chart path to deeper cross-border ties Police arrest robbery, murder suspects, rescue abducted victims across 12 states, FCT Faith Omoboye Faith Omoboye is a foreign affairs correspondent with background in History and International relations. Her work focuses on African politics, diplomacy, and global governance. Share

For Standard Bank Group, the deal increases its exposure to Angola’s financial sector and gives the South African banking group a larger controlling interest in its local business. For Angola, the transaction provides proceeds from the sale of a major financial asset while bringing more shares into public hands and adding momentum to efforts to build a deeper domestic securities market. Related News HURIWA urges South-East governors to unite against insecurity after 28 skulls recovered in Abia NGX Group, Nairobi Exchange chart path to deeper cross-border ties Police arrest robbery, murder suspects, rescue abducted victims across 12 states, FCT Faith Omoboye Faith Omoboye is a foreign affairs correspondent with background in History and International relations. Her work focuses on African politics, diplomacy, and global governance. Share

For Angola, the transaction provides proceeds from the sale of a major financial asset while bringing more shares into public hands and adding momentum to efforts to build a deeper domestic securities market. Related News HURIWA urges South-East governors to unite against insecurity after 28 skulls recovered in Abia NGX Group, Nairobi Exchange chart path to deeper cross-border ties Police arrest robbery, murder suspects, rescue abducted victims across 12 states, FCT Faith Omoboye Faith Omoboye is a foreign affairs correspondent with background in History and International relations. Her work focuses on African politics, diplomacy, and global governance. Share

Faith Omoboye is a foreign affairs correspondent with background in History and International relations. Her work focuses on African politics, diplomacy, and global governance.