The executive manager of the Capital Market Commission (CMC) of Angola, Vera Daves, said “a handful” of domestic companies are preparing to be listed on the stock exchange, speaking on the sidelines of the inauguration of the Treasury Securities Exchange Market, on Tuesday in Luanda.
Vera Daves pointed out that the listing depends on the companies themselves and said they have already registered the first companies in the programme for preparation for the stock market, taking into account the admission rules.
“Companies applying to be assessed, to understand their weaknesses in terms of management and financial reporting and based on that assessment to take the necessary measures to comply with the eligibility rules,” said the CMC director.
The Treasury Securities Exchange Market opened on Tuesday, now allows trading in real time, of Treasury bills issued by the Angolan State but plans to extend to bonds issued by companies.
This is a market managed by the Angolan Debt and Securities Exchange (Bodiva), created in 2014 to manage regulated securities markets within the CMC.
Daves said that “a handful” of Angolan companies that want to float on the stock exchange are from the insurance, telecommunications or distribution and retail sectors however there was no specific date for admission. (macauhub)