Africa-Press – Angola. The period for the sale of 37.47% of the shares of the Angolan company Exploração Petrolífero SA (ACREP), through the Angolan Debt and Stock Exchange (BODIVA), was extended until 3pm on the 15th of this month, a decision approved by the Capital Market Commission (CMC).
Initially, interested parties/investors could purchase their respective shares between February 19th and March 1st, 2024.
However, the extension of the deadline is based, among other aspects, on the concentration of account opening requests in the final part of the global public offering period, “noting it being possible to respond in a timely manner to such requests”. The extension of this period also makes it possible to ensure compliance with the best regulatory and compliance standards, according to a press release this Tuesday.
Additionally, the measure also aims to facilitate the access of small investors and/or savers to the capital market, with the inherent promotion of the financial inclusion of all economic agents in this process, as well as including access to the offer by investors who, having expressed interest in it, “they were unable to complete the ongoing account opening processes in a timely manner”, according to the document.
According to the note, during the period of said extension, investors may change or revoke, until 3:00 pm on March 11, 2024, the declarations of acceptance presented.
The source also recalls that by subscribing to shares, investors will be able to transmit their declaration of acceptance to any of the intermediation agents hired by ACREP for this purpose (Áurea – Sociedade Distribuidora de Valores Mobiliários, SA and Banco Poupança e Crédito – BPC ).
Under the terms described in the prospectus, through the Public Subscription Offer (OPS), up to 600 thousand and 890 ordinary, book-entry and nominative shares are offered, with a nominal unit value of 3,250 kwanzas, representing up to 24.99% (in case full subscription) of ACREP’s share capital.
On the other hand, through the Public Offering (OPV), 300 thousand ordinary, book-entry and nominative shares are offered, with a nominal unit value of kz 3,250, representing up to 16.63% of ACREP’s current share capital, currently held by shareholder BPC.
The offer is aimed at the general public, specifically targeted at natural or legal persons residing or having an establishment in the Republic of Angola.
With this process, the Angolan oil company becomes the first company in this sector to be sold through BODIVA.
Founded in 2003, ACREP operates in the Oil and Gas sector in Angola, while across borders it is marked with a strategy that began with oil exploration in mature fields, the acquisition of 15% of participating interests in offshore block 4/05, 5% in the offshore block 17/06 and 15% in the Cabinda Norte onshore block, in 2005, 2006 and 2007, respectively.
In 2016, the company acquired a 12.5% participating interest in offshore Block 2/05 and four years later acquired a 10% participating interest in block 1/14.
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