{"id":40912,"date":"2026-07-28T16:54:00","date_gmt":"2026-07-28T14:54:00","guid":{"rendered":"https:\/\/www.channelafrica.co.za\/channelafrica\/?post_type=news&#038;p=40912"},"modified":"2026-07-28T16:54:00","modified_gmt":"2026-07-28T14:54:00","slug":"angola-raises-more-than-300-million-in-oversubscribed-unitel-ipo","status":"publish","type":"news","link":"https:\/\/www.channelafrica.co.za\/channelafrica\/news\/angola-raises-more-than-300-million-in-oversubscribed-unitel-ipo\/","title":{"rendered":"Angola raises more than $300 million in oversubscribed Unitel IPO \u00a0"},"content":{"rendered":"<p>Angola raised 300.3 billion Kwanzas ($329 million) through the sale of a 15% stake in the country&#8217;s biggest telecommunications operator, Unitel, after investor demand \u200cexceeded the shares on offer by more than 20%.<\/p>\n<p>&nbsp;<\/p>\n<p>The government sold 7.5 million shares in state-controlled Unitel at a final price of 40 040 Kwanzas ($43.87) per share, the top end of the indicated price range, with demand reaching 362.1 billion Kwanzas ($396.7 million).<\/p>\n<p>&nbsp;<\/p>\n<p>The offer achieved a subscription rate of 120.72%, final results released on Monday showed.<\/p>\n<p>&nbsp;<\/p>\n<p>Unitel has more than 21 million customers, and the Initial Public Offering (IPO) is one of the highlights of Angola&#8217;s push to open its state-dominated economy to private investment.<\/p>\n<p>&nbsp;<\/p>\n<p>A total of 17 549 orders were accepted out of 18 571 submitted during the offer period, which ran \u200cfrom \u2060July 6 to July 24.<\/p>\n<p>&nbsp;<\/p>\n<p>Trading of Unitel shares on Angola&#8217;s BODIVA stock exchange is due to begin on July 29.<\/p>\n<p>&nbsp;<\/p>\n<p>The Southern African oil producer has seen a handful of listings on \u2060its BODIVA exchange since the first flotation in 2022.<\/p>\n<p>&nbsp;<\/p>\n<p>Unitel was previously partly owned by businesswoman Isabel dos Santos, daughter of former President \u2060Jose Eduardo dos Santos, who was in power for 38 years until 2017.<\/p>\n<p>&nbsp;<\/p>\n<p>Current President Joao Lourenco has moved \u2060to push aside powerful figures associated with dos Santos, including his daughter, and nationalised her 25% stake in Unitel.<\/p>\n<p>&nbsp;<\/p>\n<p>&#8211;Reuters&#8211;<\/p>\n","protected":false},"featured_media":37998,"template":"","meta":{"_acf_changed":false,"_links_to":"","_links_to_target":""},"news-type":[44],"class_list":["post-40912","news","type-news","status-publish","has-post-thumbnail","hentry","news-type-finance","entry"],"acf":{"short_description":"Angola has raised $329 million by selling a 15% stake in Unitel","published_date":"2026-07-28 16:52:23","news_description":"Angola has raised $329 million by selling a 15% stake in Unitel","form_embed":"","author":"","image_caption":""},"_links":{"self":[{"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/news\/40912","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/news"}],"about":[{"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/types\/news"}],"version-history":[{"count":1,"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/news\/40912\/revisions"}],"predecessor-version":[{"id":40918,"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/news\/40912\/revisions\/40918"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/media\/37998"}],"wp:attachment":[{"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/media?parent=40912"}],"wp:term":[{"taxonomy":"news-type","embeddable":true,"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/news-type?post=40912"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}