Angola: Stock exchange launches within next three months, with six listed companies

22 November 2007

London, United Kingdom, 22 Nov – The Luanda Stock Exchange is schedule to begin operating within three months, with six listed companies, the chairman of the Capital Markets Commission, António de Cruz Lima said Tuesday in London.

Speaking at a conference organized by Russian bank Renaissance capital, Lima said that, by 2010, the Luanda Stock Exchange would have 113 companies listed, and a market capitalization of US$172 billion.

This, he said, would be when local companies “understand that listing on the stock exchange is a good way of getting financing.”

For the launch, he said, 16 companies were being prepared, of which six already, “meet all requirements,” and are from the oil, banking, telecommunications and industry sectors.

By the end of 2008, “we hope to have much more than 16 companies,” Cruz Lima said.

Amongst these, he said, would be De Beers, Banco Comercial de Angola and BP Angola. (macauhub)