Africa-Press – Angola. The Angolan Debt and Values Exchange (BODIVA) is waiting for more public and private companies to be listed on the stock exchange, after the entry of Banco Angolano de Investimento (BAI) and Caixa Angola (BCGA).
According to BODIVA’s executive director, Cristina Lourenço, some companies are already public and others are yet to be announced due to their preparation for this purpose.
Among the range of private companies, it is known that some have already expressed an interest in listing on the stock exchange, as is the case of the then Sociedade Petrolífera Angola (Somoil), currently Etu Energias, which plans to sell around 5% of its capital, Banco Millennium Atlântico and others in the insurance field.
In terms of public companies, another set is also expected on the Stock Exchange within the framework of the Propriv extension programme, with 73 assets and holdings, many of which will be sold on the platform.
Cristina Lourenço, who was speaking to the press on the sidelines of the signing ceremony of the Memorandum of Understanding between the Credit Guarantee Fund (FGC) and its institution, said that some companies are already starting to be prepared this year for their entry.
“On our side we have all the conditions created and we continue to work with these companies so that, as soon as they are ready, they can in fact be part of our stock exchange”, he explained.
According to the official, there are companies that have all the conditions to enter the market, but everything depends on the decision of their management bodies, as well as their shareholders, a process that can take some time.
“As an exchange, we can forward and encourage, but never force this entry into the exchange,” he clarified.
Alongside the strategies, BODIVA maintains the financial literacy program from small to large formats of seminars, workshops, bringing companies together, in addition to other initiatives with investors and university students.
According to Cristina Lourenço, the difficulties faced by companies to go public are centered on the preparation of their corporate governance.
For listing on the stock exchange, there are a series of requirements such as market capitalization of no less than 500 million kwanzas, accounts audited in the last five years, having an independent auditor, safeguarded principles of good corporate governance, among other good practices.
“We see that some companies that are interested in being listed on the stock exchange do not have all the criteria fulfilled, but rather make an effort to pass on their organized accounting, have better corporate governance practices and be able to prepare themselves to have the advantages of financing through the stock exchange or the issuance of shares or bonds”, he observed.
BODIVA, created in 2015, manages a market where various instruments are traded, with emphasis on Treasury Bonds.
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