Cabo Verde Telecom requests to be listed on the stock exchange

19 June 2018

Cabo Verde Telecom (CV Telecom) will apply to list shares representing its capital stock on the Cabo Verde Stock Exchange, according to a decision made in the Cape Verdean capital, Praia.

CV Telecom’s Communications and Image department said in a statement that shareholders approved the application for listing on the Cabo Verde Stock Exchange, an entity created in May 1998, with a current capitalisation of 61 billion Cape Verdean escudos (US$642 million) and four companies in the stock market.

The General Meeting allowed the Board of Directors to present the accounts for the 2017 financial year, in which the company posted a net profit of 160 million escudos, and the shareholders approved the distribution of dividends in the amount of 160 escudos (US$1.68) per share.

CV Telecom’s shareholder structure includes PT Ventures SGPS (40%), the National Social Security Institute (37.9%), Cape Verdean private investors (13.7%), Sonangol CV (5%) and the Cabo Verde state (3.4%). (macauhub)