Africa-Press – Cape verde. The Government stated today that the sale of 27.44% of State shares in Caixa Económica represents a new era and is an “unequivocal sign” that Cape Verde is experiencing a good moment of confidence among families and economic operators.
The statement was made by the Secretary of State for Finance, Alcindo Mota, when he gave his speech at the special ceremony to calculate and disclose the results of the Public Offer for Sale of 27.44% of CAIXA’s share capital held by the State”, intended for national and foreign investors.
The government official welcomed the 929 new shareholders of Caixa Económica bank, with the firm conviction that they will be the new drivers of the business of this important bank.
“We do have reasons to believe that the sale of State shares will contribute to broadening horizons and the market, increasing business volume, accelerating innovation and reinforcing the role of CAIXA in the Cape Verdean financial system, its contribution to the financing the economy and its commitment to sustainable development”, he stated.
In this sense, he considered that this was the largest public sale operation in terms of greater financial income for the offeror, in the history of the Cape Verde Stock Exchange, when talking about public sales offers, greater participation in terms of subscribers, greater number of shares traded on the stock exchange.
Alcindo Mota highlighted that the agenda of privatization, divestments, partnerships, Public-Private Partnerships (PPP) and concessions will make a strong contribution to boosting the capital market and giving greater relevance and national and international projection to the stock exchange.
“This was a far-reaching operation, the investors are from 24 countries around the world, including Cape Verde, which in itself testifies to the level of notoriety, interest in Cape Verde and confidence in national banking, this operation demonstrates the level of financial literacy of Cape Verdeans”, he considered.
He highlighted that of the 944 orders, 912, that is, 97%, are from individuals, that is, from families, which, in his opinion, shows that investing in shares in a bank such as Caixa Económica represents a good alternative for families to apply the savings and that this operation also demonstrates Cape Verdeans’ confidence in national banking.
“Around 42% of orders were issued and 58% of shares were acquired through Caixa Económica de Cabo Verde, that is, by customers of that bank and this is an unquestionable indicator of customers’ trust in their bank. They prefer not only to have savings and carry out operations, but also to become owners of this important bank”, he reinforced.
According to the Secretary of State for Finance, this operation is creating new opportunities for the private sector, the diaspora and increasing the credibility of Cape Verde and its institutions.
“The Government of Cape Verde congratulates the State Business Sector Monitoring Unit (UASE) in the person of its coordinator for intelligently conducting the process, but also the General Audit of the Securities Market (AGMVM) and the BVC (Stock Exchange of Cape Verde) for the intelligent partnership and full assumption of their respective responsibilities”, he declared.
Caixa Económica goes from 173 to 1,102 shareholders after the sale of the 27.44% of the share capital held by the State.
The number of shares that the State managed to sell for the public offering was 368,369 shares, which allows it to take home an income of 1.5 billion escudos.
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