Angolan Oil Firm Sonangol Presses Ahead With IPO Despite Delays

Angola’s state oil company Sonangol continues to prepare for a potential initial public offering, despite being excluded from the latest list of companies slated for privatization, board member Baltazar Miguel said.

“There’s a lot of work being done for the IPO,” Miguel told reporters at a press conference in Luanda on Wednesday. The company has completed debt sales and established an investor relations office, steps aimed at preparing for a possible listing, he said.