Home / Business and Economy / Angola Sees Biggest IPO: Unitel Sale Nets $321M
Angola Sees Biggest IPO: Unitel Sale Nets $321M
28 Jul
Summary
- Angola successfully sold a 15% stake in Unitel SA.
- The state-owned wireless operator's IPO raised 300.3 billion kwanzas.
- This marks Angola's largest initial public offering to date.
Angola has marked a significant milestone with its largest initial public offering, raising 300.3 billion kwanzas, approximately $321 million. This substantial sum was generated through the sale of a 15% stake in the state-owned wireless operator, Unitel SA.
The government offered 7.5 million shares at a price of 40,040 kwanzas per share. This transaction represents a key moment for the Angolan economy, signaling progress in the privatization of state assets.
The successful IPO demonstrates investor confidence in Angola's telecommunications market. Unitel SA, as a major player in the wireless sector, is poised for continued growth following this strategic divestment by the state.
