Luanda, July 6, 2026 (Lusa) - Angolan telecoms provider, UNITEL, on Monday launched a sale of 7.5 million shares, with proceeds expected to total around 300 billion kwanzas (around €282 million), making it the largest initial public offering ever held in the country.
Speaking to the press, the director of BFA Capital Market, Paulo Graça, said that the public offering of 15% of the shares in UNITEL, Angola’s largest telecommunications company, is expected to exceed the country’s previous IPO – that of Banco de Fomento Angola (BFA) – which raised around 120 billion kwanzas (€112.7 million).
Paulo Graça pointed out that the unit price of the 7.5 million shares ranges from 36,000 kwanzas (€33.80) to 40,000 kwanzas (€37.5), the minimum and maximum prices respectively.
According to Paulo Graça, UNITEL holds around 76% of the Angolan telecommunications market share, has been in existence for 25 years and has nearly 21 million customers.
“Our impression, based on what we have seen over the last few months, is that there is strong demand for UNITEL shares; we have been contacted by many investors – including many individuals, private investors, corporate investors and even institutional investors – who are interested in investing in UNITEL shares,” said Paulo Graça.
He also pointed out that, to date, the Angolan stock market has only listed companies from the financial sector – three banks and one insurance company – as well as the Angolan stock market itself, BODIVA, with UNITEL being the first from the telecommunications sector.
UNITEL is currently owned by two shareholders: the Angolan State (50%), through the Institute for the Management of State Assets and Holdings (IGAPE), and the state-owned oil company Sonangol (50%), through MS Telecom and PT Ventures, each holding 25% of the share capital.
Of the 15% of shares, 2% are allocated to employees and 13% to the general public; the public offering period is scheduled to end on the 24th of this month, with eight entities marketing UNITEL shares from 2:00 pm today.
The final share price is due to be set on the 27th of this month, with the shares due to be listed on the stock market two days later.
Paulo Graça stated that UNITEL plans to invest over the next five years in digital transformation, artificial intelligence and cloud computing, to support the various services in its portfolio and ensure the sustainability of its communications and connectivity business.
“There are the traditional businesses, but there should also be new ventures in the technology sector, particularly in the area of digital transformation,” he emphasised.
In 2025, UNITEL recorded a net profit of over 158 billion kwanzas (€148.5 million).
NME/AYLS // AYLS
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