PLMJ with Standard Bank Angola on US$ 230M IPO
PLMJ Colab Angola – RVA Advogados and PLMJ advised Standard Bank Group Limited on the initial public offering and admission to trading of the shares of Standard Bank de Angola, S.A. (“SBA”) on the Bolsa de Dívida e Valores de Angola (“BODIVA”), the Angolan stock exchange.
The transaction involved a public offering of shares representing 34% of SBA’s share capital, with total proceeds of approximately US$ 230 million. In the context of this offering, Standard Bank Group Limited acquired 24% of SBA’s share capital, thereby consolidating its position as the majority shareholder. The remaining 10% were placed through a retail offering, with subscriptions exceeded more than three times the number of shares offered.
The process resulted in the admission of more than 6,000 new shareholders to SBA’s share capital, marking a significant milestone in the development and deepening of Angola’s capital markets. SBA’s shares were officially admitted to trading on BODIVA today.
The advisors team was composed of partners Raquel Azevedo, Gonçalo dos Reis Martins, Renata Valenti, as well as lawyers Joana Marques dos Reis, Madalena Perestrelo de Oliveira, José Luquinda.
