The Angolan State Asset and Equity Management Institute (IGAPE) announced today the opening of a tender for the sale of 30% of the capital of the Angola Debt and Securities Exchange (BODIVA). Interested parties have until 23 September to submit applications.
The shares will be sold through a tender limited by prior qualification, according to the IGAPE statement.
The tender provides for the sale of 30,000 shares with a nominal value of 9,000 kwanzas (20.5 euros) representing 30% of BODIVA, grouped into 60 lots of 500 shares each. Each bidder may acquire up to a maximum of 19 lots, and at least 50% of bidders submitting valid bids must be dispersed.
The shares will be subject to the unavailability regime, and cannot be sold to third parties (i.e., to any entities that are not members of BODIVA), and/or the constitution of liens and/or charges, from the date of the respective acquisition by the successful tenderers and until the opening date of the second phase of the privatization process of BODIVA, according to the specifications.
The successful tenderers are obliged, within a maximum period of 10 days from the date of the respective award, to provide a security in the amount corresponding to 5% of the price related to the shares to be acquired, which IGAPE may use, without the need for prior consent, for the satisfaction of any sums due for non-compliance or defective fulfillment of the obligations guaranteed by the guarantee.
BODIVA is a public limited company involved in the management of regulated markets in Angola, providing services relating to the issuance and trading of securities and other instruments, preparation, distribution and marketing of information relating to markets in financial instruments, as well as computer programs for the contracting and transmission of orders or data, within the scope of the capital market.