Angola: Banco de Fomento Angola’s IPO on BODIVA Oversubscribed 5 Times

The transaction, carried out on BODIVA (Luanda Stock Exchange), attracted demand five times higher than the offer, with the price set at €46 (49,500 kwanzas) per share.
The transaction, carried out on BODIVA (Luanda Stock Exchange), attracted demand five times higher than the offer, with the price set at €46 (49,500 kwanzas) per share.
Angola’s state-owned diamond company, Endiama, has submitted a bid for a minority stake in De Beers, the diamond subsidiary of Anglo American (BSE:ANGLO) currently up for sale.
The largest IPO ever carried out on the Angolan Stock Exchange (BODIVA – Bolsa de Dívida e Valores de Angola) began on Friday, September 5. The initial public offering (IPO) of Banco de Fomento Angola (BFA)
Fitch Ratings has upgraded Angola's Long-Term Foreign-Currency Issuer Default Rating (IDR) to 'B-' from 'CCC'. The Outlook is Stable.