Africa-Press – Angola. The CEO of the Angola Securities Exchange (BODIVA), Cristina Lourenço, ruled out on Wednesday (29) in Luanda the possibility of the mobile phone operator UNITEL’s shares depreciating on the stock market following the cyberattack it suffered on Tuesday (28th).
Speaking to the press on the sidelines of UNITEL’s stock exchange listing ceremony, she stated that the equities market is governed by efficiency and the ability of listed companies to clarify relevant facts to investors so that they can absorb the information and make decisions.
Owing to market efficiency, she stated, “any information from yesterday does not impact today’s price, as the information is absorbed quickly and correctly, and the price is corrected, adjusted, and calibrated on the secondary market,” she emphasized.
The executive stated that a company’s stock market flotation increases, on the one hand, market perception regarding its growth capacity, and on the other hand, raises its responsibility and duty of reporting to its investors, stakeholders, and the general public.
To investors in UNITEL and other companies on the secondary market, she reiterated her ongoing commitment to maintaining an exchange where assets can be traded freely, securely, and efficiently.
On the occasion, she appealed for rationality in decision-making by capitalist and institutional investors as well as the general public, warning of the dynamic and variable nature of stock market returns.
Alluding to the cyberattack targeted at UNITEL, Cristina Lourenço praised the company’s open stance as an issuer, given that it informed investors and the general public about the occurrence, demonstrating responsibility regarding its duty to inform.
The 7,500,000 ordinary shares of the mobile telecommunications operator UNITEL, recently divested via a Public Offer for Sale (OFS), were officially admitted this Wednesday to the Stock Market.
With their admission to the secondary market, all the shares, representing 15% of the State’s holding, are freely tradable, allowing any interested investor to buy or sell them through a financial intermediary that is a BODIVA member.
UNITEL becomes the 6th company to be listed on the stock exchange and the 1st in the telecom sector.
