Angolan Lender BFA Jumps in Luanda Debut After $239 Million IPO
A Banco De Fomento Angola bank branch in Angola.
Photographer: Issouf Sanogo/AFP/Getty Images
Banco de Fomento Angola SA rose 25% in its first day of trading in Luanda after it raised $239 million in the nation’s largest initial public offering to date.
The shares of Angola’s second-largest bank by assets increased 25% to 61,875 kwanzas ($66.9), above the IPO price of 49,500 kwanzas, according to Angola’s stock exchange Bodiva.