Angola Launches IPO for 15% Stake in Telecom Operator UNITEL

July 10, 2026
By Mintesinot Nigussie

Angola has launched an initial public offering (IPO) for a 15 percent stake in UNITEL, marking one of the largest capital market transactions in the country’s history.

The Institute for the Management of State Assets and Holdings (IGAPE), acting as the selling shareholder, is offering 7.5 million ordinary registered shares in UNITEL, each with a nominal value of AOA 5,000. Upon completion of the transaction, all 50 million shares representing the company’s issued share capital are expected to be listed on the Angola Debt and Securities Exchange (BODIVA).

The final offer price will be determined through a bookbuilding process, with shares priced within a range of AOA 36,036 to AOA 40,040 based on investor demand during the subscription period.

The IPO is divided into two tranches. A total of one million shares, equivalent to 2 percent of UNITEL’s share capital, has been reserved for eligible employees, while the general public offering covers 6.5 million shares representing 13 percent of the company.

The subscription period opened on July 6, 2026, and will close on July 24, allowing retail, corporate and institutional investors to participate in the offering.

Subscriptions can be submitted through participating financial intermediaries, including BFA Capital Markets, Áurea SDVM, Distribuidora Valor SDVM, Eaglestone SDVM, Standard Invest SDVM and Hemera Capital Partners Securities. Investors can also place orders through Banco Caixa Geral Angola and Banco de Fomento Angola using branch networks and digital channels.

With more than 21 million customers and operations across all 18 provinces of Angola, UNITEL has been the country’s leading telecommunications operator for 25 years.

The IPO is expected to expand public participation in one of Angola’s largest companies while supporting the development of the country’s capital markets.

Source: FSX Business News