Africa-Press – Cape verde. The Government will launch on January 10th a public offer for sale, on the Stock Exchange, to sell the 27.44% of the State of Cape Verde’s stake in the share capital of Caixa Económica (Caixa).According to a statement from the executive, the sale period for the shares will be between 8:30 am on January 11, 2024 and 3:00 pm on February 23, 2024 and the sale price of the shares is 4,080 escudos/share that can be subscribed through the Blu-X platform or intermediary banks, namely BAI, BCA, BCN, BI, CAIXA and IIB.
The 27.44% of Caixa’s share capital corresponds to a total of 381,904 that the State of Cape Verde purchased from Sociedade Macaense Geocapital, with the aim of guaranteeing the stability of this bank.
According to the statement, the process of partial sale of Caixa shares was planned to ensure transparency, in line with securities market rules, application of best international practices, good governance and guarantee of private sector participation and civil society.
On the other hand, he added, it aims to promote economic development, competitiveness, employment and growth, strengthening the business environment in Cape Verde, always guaranteeing the safeguarding of national interests and the maximization of social and economic benefits, through of its capital market.
With this public sale operation (OPV) of 27.44% of the shareholding held by the State in Caixa, the Government begins the implementation of the agenda of companies subject to privatization, partial sale, concession or Public-Private Partnership (PPP) , through Resolution no104/2022, of November 16th.
Since Caixa is an institution listed on the stock exchange, the executive considers that the sale of its shareholding provides an investment opportunity for families in the country and in the diaspora, to diversify the investment portfolio and encourage savings.
Caixa, according to the statement, is one of the largest banks in the Cape Verdean banking sector, with net assets of 3,503,409 contos (31,773 thousand euros), own funds reaching 7,388,464 contos (67,006 thousand euros) ) and Solvency Ratio standing at 24.30%, on September 30, 2023, showing great economic and financial solidity.
In 2022, Caixa was also considered the most digital bank in the sector in Cape Verde.
The launch of this OPV, according to the Government, requires approval from the General Auditor of the Securities Market (AGMVM), in accordance with the legal framework applicable to the Capital Market.
Caixa’s shareholder structure currently includes, in addition to the State of Cape Verde with 27.44%, INPS which holds 47.21% of the share capital, Correios de Cabo Verde with 15.14%, and other subscribers and workers which holds 10.21%.
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