The bank BPI announced that following the Public Offering (OPV) of Banco de Fomento Angola — BFA, whose results were publicly disclosed on September 26, it sold a 14.75% stake in BFA, generating revenue in AKZ equivalent to 103 million euros, as stated in a communiqué to the Securities Market Commission (CMVM).
BPI’s stake in BFA now stands at 33.35%.
The admission of the sold BFA shares to trading on the Angola Stock Market is scheduled for this Tuesday.
The bank further asserted that this operation was a success, with demand exceeding the offer fivefold.
BPI had previously indicated that it expected the partial sale of BFA to be completed by the end of September.
Since 2017, BPI has been under a European Central Bank (ECB) recommendation to reduce its exposure to Angola, as the ECB does not consider Angolan supervision to be equivalent to the European standard.
