Angola: Unitel, TV Cabo, Multitel IPOs set to start ‘this year’
April 12th 2023
State-backed mobile network operator Unitel and its majority-owned subsidiary Banco de Fomento de Angola (BFA), two of Angola’s most profitable companies, are among twelve firms earmarked for share sales via initial public offerings (IPOs) on the Angolan Debt and Values Exchange (BODIVA) set to begin this year, reports Expansao. Also appearing on the latest IPO list are two other telecoms firms, TV Cabo Angola and Multitel, whilst Unitel’s 50% owner, state oil group Sonangol, is expected to launch its IPO proceedings in 2024.
The companies’ share sales were originally scheduled in Angola’s 2019-2022 privatisation programme, although timetables have been delayed.
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