Unitel IPO: Unitel’s Upcoming IPO Roadshow Set to Transform Angola’s Telecom Sector, ETTelecom
LUANDA: Angola’s biggest telecommunications operator Unitel is preparing an initial public offering of its shares on the local stock exchange and will launch a roadshow next week, the company said in a statement.
State-controlled Unitel has more than 21 million customers and the IPO is one of the highlights in a privatisation push.
Its statement did not give the size of stake that will be sold on the BODIVA exchange.
The Southern African oil-producing country has been gradually opening up its state-dominated economy to private investment, with a handful of IPOs on the local stock exchange since the first listing in 2022.
Unitel was previously part-owned by businesswoman Isabel dos Santos, daughter of former President Jose Eduardo dos Santos, who was in power for 38 years until 2017.
Current President Joao Lourenco has moved to push aside powerful figures associated with dos Santos, including his daughter, and nationalised her 25% stake in Unitel.
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