Angola plans to raise up to 208.5 billion kwanzas (about $228 million) by selling a 34% stake in Standard Bank de Angola SA. The stake was previously held by a jailed former insurance tycoon, and the government is offering the shares to different buyer categories.
According to the reports, the bank’s shares are priced at 41 220 kwanzas per unit for the Africa’s biggest lender, Standard Bank, based on assets, while public investors are offered the shares within a range between 41 220 kwanzas and 50 000 kwanzas. Moneyweb says trading in the offered shares is expected to begin September 30. Bloomberg focuses on the overall amount Angola aims to collect and the provenance of the stake from the jailed tycoon, without detailing the timetable or public pricing range.
Taken together, the sources describe a government-led divestment of a significant minority holding in the Angola banking unit, with pricing and timing outlined more specifically by Moneyweb and deal size emphasized by Bloomberg.
