Standard Bank Angola has inaugurated the private equity market of the Angolan Debt and Securities Exchange (Bodiva) by listing the first installment of a bond issue, whose official launch took place on Friday in Luanda.

The bell ring to mark the official launch of the issue took place at the Bodiva premises, at a ceremony led by Finance Minister Archer Mangueira, Angolan news agency Angop reported.

The issue worth a total of 4.7 billion kwanzas (US$15 million) is the first installment of Standard Bank Angola’s 9.5 billion kwanzas bond issue program approved by the Capital Markets Commission.

With an annual coupon rate of 17%, with a fixed/variable rate with a semi-annual coupon payment, Standard Bank is the broker through its Corporate and Investment Banking division.

Standard Bank Angola, which is owned by the Standard Bank group with 51% and AAA – Activos, Lda, with the remaining 49%, is a financial institution with 18 branches in seven provinces in Angola, with more than 26,700 customers.

The stock market in Angola was launched in December 2014 with the launch of the Treasury Stock Market and continued in November 2016 with the opening of the Treasury Stock Exchange Market and the Central Securities Market.

The Chief Executive of Bodiva, Patrício Vilar, announced at the time that more than 723 billion kwanzas (US$2.33 billion) were traded in treasury bonds from January to November 2018, up from 515.1 billion kwanzas registered in 2017 and 365.9 billion kwanzas traded in 2016. (macauhub)