Cabo Verde sells stake in Banco Comercial do Atlântico

27 January 2015

The government of Cabo Verde (Cape Verde) has put its 10 percent stake in the share capital of Banco Comercial do Atlântico (BCA) up for sale and the session to launch the public offering was held Monday at the country’s Stock Exchange, the Cape Verdean press reported.

The sale of these shares is part of the State’s strategy to divest its stake in what is still the largest retail bank in Cabo Verde, at a time when the regulatory framework provides the stability needed.

“The state should divest the shares of its portfolio of investments that are considered ancillary,” said a statement issued by the Ministry of Finance and Planning.

The shares will be sold to the general public at a price of 3,504 escudos each, and purchase orders can be made at the branches of various banks operating in Cabo Verde. The results of the sale will be announced on 19 February. (macauhub/CV)