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Stock market: Angola plans to list Endiama abroad after its IPO on the domestic market

10/02/2023
Source : ORISHAS FINANCE
Categories: Index/Markets

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A privatization program was launched by the Angolan government in 2019. This program includes the opening of Endiama's capital to local and foreign private investors. As a first step, Luanda plans to sell 5 to 10% of the company's capital.

The Angolan Minister of Mineral Resources, Oil and Gas, Diamantino Azevedo announced that Angola is considering a dual listing of the state-owned diamond company Endiama on the local and foreign stock markets. According to the minister's statement at a mining conference held in the South African city of Cape Town, “Angola will seek to list Endiama abroad after its IPO on the domestic market.”

According to him, “Endiama's privatization project is still ongoing and the government will opt for an IPO of the company after restructuring. Our aim is to rate up to 30%, but maybe we will start with 5 or 10%.” In 2019, the Angolan government launched the IPO of Endiama, which was part of a vast privatization program. The government is also planning to sell part of the capital of the national oil company, Sonangol, on the stock market.

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