The capitalisation of the future Angola Stock exchange may total around 10 percent of the country’s gross domestic product (GDP), the chairman of the Capital Markets Commission (CMC), Archer Mangueira said Thursday in Luanda.
Speaking about the CMC’s activities Mangueira said it was too soon to forecast the level of capitalisation of the future Angolan stock exchange, and only gave an estimate based on the average for the African continent of around 25 percent, with South Africa, for example, accounting for 38 percent of GDP.
In her turn the chief executive Vera Daves, cited by Angolan news agency said that the launch of the stock market in Angola will depend on private companies floating some of their stock, but added that the technological component of the future stock exchange will be completed this year.
Floating some shares is one of the requirements for companies to be listed, as well as being required to do business in a strict and transparent way.
The Angolan stock exchange is due to start operating in 2016.
The CMC is a state institution whose mission is to regulate, supervise and promote capital markets, as well as for registering and licensing brokerages and other companies. (macauhub)