Mota-Engil África to be listed on stock exchange in 2014

5 December 2013

The shareholders of Portuguese construction group Mota-Engil are planning to float 20 percent of Mota-Engil África, a company that is expected to be listed on a European stock exchange, according to a market statement.

In the statement filed with Portuguese stock market regulator CMVM the company said that at a general meeting scheduled for 27 December “the conditional free distribution of ordinary shares to shareholders, representing 20 percent of the Mota-Engil group’s sub-holding for its businesses in Africa (Mota-Engil África).”

On 21 November the chief executive of Mota-Engil, Gonçalo Moura Martins, told Portuguese news agency Lusa that the group would propose a listing on a European stock exchange outside Portugal in order to gain access to a “more global financial market.”

Africa accounts for over 40 percent of the Portuguese construction group’s turnover, which has a significant presence in Angola and Mozambique.

Mota-Engil África is expected to be listed by the end of the first half of 2014, said Moura Martins without naming the intended stock exchange. (macauhub)