Stock exchange to officially launch in Luanda Thursday

16 March 2006

Luanda, Angola, 16 March – The Luanda stock exchange will be officially launched in ceremony in the Angolan capital Thursday, and will have initial capital of US616 million, divided between 17 subscribers, officials said.

Amongst the subscribers to the institution’s capital are Banco de Fomento Angola (BFA), entirely held by Portugal’s BPI banking group, and Banco Internacional de Crédito (BIC), in which Portuguese businessman Américo Amorim has a personal stake of 25 percent.

Angolan national oil company, Sociedade Nacional de Combustíveis de Angola (SONANGOL) and diamond company, Empresa Nacional de Diamantes de Angola (ENDIAMA) are also part of the list of subscribers, which amongst other s includes Angolan insurance company, Empresa Nacional de Seguros de Angola (ENSA), the Economic and Social Development Fund (FDES) and Banco de Poupança e Crédito (BPC), which is Angola’s largest retail bank.

Cruz Lima, president of the Angolan regulator the Capital Markets Commission, said that the future stock exchange would begin trading in the last quarter of this year and would initial have around ten companies listed. (macauhub)