Cabo Verde Airlines has another 44 shareholders

24 February 2020

Cabo Verde Airlines has a further 44 new shareholders following the sale of 74,650 shares to Cape Verdean emigrants, said the director of the Department of Market Operation of the Cabo Verde Stock Exchange.

Edmilson Mendonça said demand for shares was higher than supply, and the operation raised 108,765,050 escudos (US$1.06 million) for the state with a sale price of 1,457 escudos (US$14.3) per share.

Conducted on the stock exchange, until 16 December the operation received 44 purchase orders, specifically from emigrants in the United States of America (17), France (5) Germany (4), the Netherlands (four), Portugal (three), Switzerland (two) and Sweden (two).

The batch of 44 new shareholders of Cabo Verde Airlines is composed of emigrants resident in Angola, Belgium, Spain, Guinea-Bissau, Japan, Nigeria and China (Macau).

In March last year the government of Cabo Verde sold 51% of the airline, then called Transportes Aéreos de Cabo Verde (TACV) for €1.3 million to Lofleidir Cabo Verde, a company 70%-owned by Loftleidir Icelandic EHF (Icelandair group, which owns 36% of the airline now called CVA) and 30% to Icelandic entrepreneurs with experience in the aviation sector (who took over the remaining 15% of the privatised stake of 51%).

In addition to this 7.65% stake, in 2019 the government sold a stake of 2.65% on the stock exchange to 91 workers of the former state air carrier.

The final lot of shares still owned by the State, of 39%, will be sold on the stock exchange to institutional investors, as previously announced by the government. (macauhub)

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