29 December 2007

Angola: Stock Exchange Opens in 2008

Luanda — The Angola Stock Exchange and Derivatives (BVDA) will start operating in the first quarter of next year, said recently the chairman of the Market Capital Commission (CMC), Cruz Lima.

Speaking to journalists on the fringes of the ceremony of award of the first certificate for the issuing of real estate bonds to the African Investment Bank (BAI) by the Capital Market, the stock exchange may start in 2008.

Cruz Lima expressed the hope that the stock exchange will start with many companies as, he added, there is much resource and companies that can boost the capital market to international standards.

According to official data, the Angola Stock Exchange and Derivative whose launch has 27 subscribers, involving an amount of Usd 16 million. Among the main subscribers are Sonangol (oil firm), Endiama (diamond), Ensa (insurance), FDES (fund), BPC, BIC, BFA, BAI (banks), Grupo António Mosquito, Sistec and Chicoil.

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