The Institute for the Management of State Assets and Holdings (IGAPE), acting as the selling shareholder, has officially launched the Initial Public Offering (IPO) of a 15% stake in UNITEL. This highly anticipated share sale represents one of the largest capital market transactions ever undertaken in Angola, reinforcing the nation’s ongoing economic transformation efforts covered extensively on Afrikeye.
The transaction involves the sale of 7,500,000 ordinary registered book-entry shares, representing 15% of UNITEL’s share capital, with each share holding a nominal value of AOA 5,000.00. Upon the successful completion of the offering, all 50,000,000 shares—comprising the company’s entire issued share capital—are expected to be admitted to trading on the Angola Debt and Securities Exchange (BODIVA).
UNITEL IPO: A Landmark Transaction for Angola’s Telecommunications Sector
The final offer price will be determined within a set price range of AOA 36,036.00 to AOA 40,040.00 per share. This price will be finalized following the bookbuilding process, which gauges investor demand during the official subscription period.
The UNITEL IPO is structured into two distinct tranches to ensure broad participation. The Employee Offering reserves 1,000,000 shares—representing a 2% stake in the company’s share capital—for preferential subscription by eligible UNITEL employees. The remaining 6,500,000 shares, equating to 13% of the share capital, are allocated to the General Public Offering, which will also absorb any shares left unsubscribed by employees.
The subscription period officially opened at 2:00 p.m. on July 6 and will close at 3:00 p.m. on July 24, 2026. This window allows retail, corporate, and institutional investors to actively participate in what is widely considered a milestone event for Angola’s financial and business sector.
Prospective investors can submit their subscription orders through a network of participating financial intermediaries. These include BFA Capital Markets, Áurea SDVM, Distribuidora Valor SDVM, Eaglestone SDVM, Standard Invest SDVM, and Hemera Capital Partners Securities. Additionally, orders can be placed via Banco Caixa Geral Angola and Banco de Fomento Angola using their branch networks, websites, telephone banking services, and digital platforms.
A Legacy of Telecommunications Leadership
With an active base of more than 21 million customers and comprehensive operations spanning all 18 provinces of Angola, UNITEL has proudly maintained its position as the country’s leading telecommunications operator for the past 25 years. This public listing not only aligns with national strategies to diversify the economy but also provides Angolan citizens and global investors with a rare opportunity to become shareholders in one of the nation’s most established companies.
By participating in this IPO, investors will directly support the continued maturity and development of Angola’s capital market while positioning themselves to benefit from UNITEL’s future growth and technological expansion.
