After a Decade of False Starts, Angola Gets Its Stock Market
- BAI is the first of as many as 20 listings in the coming years
- The stock’s asking price was 5% above the IPO but no sellers
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With about 200 people counting down to Banco BAI’s share debut, Angola’s stock exchange finally got off the ground.
BAI, the southwest African nation’s biggest lender, had 20 buy orders at 21,650 kwanzas ($50) on the bourse known as Bolsa de Divida e Valores de Angola, or Bodiva, 5% more than the the initial public offering price. But there were no sellers.