Backed by IGAPE, the massive initial public offering makes history as Angola’s largest capital market transaction, opening a direct window for public and institutional investors to own a piece of the country’s leading mobile network operator.

In a historic milestone for Angola’s financial and capital markets, the Institute for the Management of State Assets and Holdings (IGAPE) has officially launched the Initial Public Offering (IPO) of a 15% equity stake in UNITEL, the nation’s premier telecommunications operator.

The landmark transaction involves the offering of 7,500,000 ordinary registered book-entry shares, representing 15% of UNITEL’s total share capital, with a nominal value of AOA 5,000.00 per share. Following the conclusion of the subscription window, all 50,000,000 shares comprising UNITEL’s entire issued capital are expected to transition to official trading on the Angola Debt and Securities Exchange (BODIVA).

The final offer price will be determined via an open bookbuilding procedure based on actual investor demand during the subscription period, set within a targeted range of AOA 36,036.00 to AOA 40,040.00 per share.

To ensure inclusive participation, the offering is structured across two distinct tranches:

• The Employee Offering: Reserves 1,000,000 shares (2% of the company’s share capital) for preferential subscription by qualifying UNITEL personnel.
• The General Public Offering: Makes 6,500,000 shares (13% of share capital) available to retail, corporate, and institutional investors, alongside any leftover shares from the employee allocation.

Subscriptions are officially open, running until July 24, 2026, at 3:00 p.m. Investors can submit their orders through an extensive network of authorized financial intermediaries, including BFA Capital Markets, Áurea SDVM, Distribuidora Valor SDVM, Eaglestone SDVM, Standard Invest SDVM, and Hemera Capital Partners Securities, as well as direct branch and digital channels via Banco Caixa Geral Angola and Banco de Fomento Angola.

For a quarter of a century, UNITEL has served as the connective tissue of Angola, scaling to over 21 million customers across all 18 provinces.

By moving past the traditional financial-sector dominance on BODIVA and introducing a telecom powerhouse to the public exchange, the IPO offers citizens and institutional funds a rare opportunity to capture the long-term momentum of Angola’s booming digital and consumer economy. It marks a transformative step forward in the state’s broader privatization roadmap, establishing a fresh benchmark for corporate transparency and public asset participation in the region.