The sale of 14.75% of Banco de Fomento Angola (BFA) by Portuguese group BPI generated €101 million. The transaction, carried out on BODIVA (Luanda Stock Exchange), attracted demand five times higher than the offer, with the price set at €46 (49,500 kwanzas) per share.
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BPI’s chairman, João Pedro Oliveira e Costa, had anticipated this success, describing it as the largest transaction ever conducted on the Angolan stock exchange.
In addition to BPI’s divestment, the Angolan state also sold its 15% stake held through Unitel, further enhancing the bank’s free float.
The IPO ran from September 5 to 25, 2025, with settlement completed on September 29 and BFA’s first trading day on BODIVA around September 30, 2025.
BFA, which became the first bank to join BODIVA in 2015, now makes its market debut with a record-breaking transaction. As Angola’s leading bank, it accounts for more than 70% of transactions, operates a nationwide branch network, and serves over three million customers.
