The Angolan Debt and Securities Exchange (Bodiva) announced today that oil company Sonangol has raised 75 billion kwanzas (84.2 million euros) as a result of the public offering of its 2023-2028 bonds on the exchange.

Demand reached 83.9 billion kwanzas (94.2 million euros) as a result of a demand for 8,395,665 units, but the quantity allocated was only 7,500,000 bonds, which enabled 75 billion kwanzas to be raised.

According to Bodiva, the special regulated market session to determine the results of the public subscription offer for the 7,500,000 bonds of the Angolan state oil company took place on Wednesday.

The demand for Sonangol's bonds had a ratio over the offer of 119.94%, which guaranteed the issuer a total offer amount of 75,000,000,000 kwanzas, 10,000 kwanzas (11 euros) for each nominal unit.

According to Bodiva, the demand for the oil company's 7,500,000 bonds also ensured that the screening criteria under the terms of the prospectus were met and that all 1,486 investors who submitted valid orders were included in the allocation.

The Sonangol 2023-2028 bonds will be admitted to trading on the Private Bond Exchange "MBOP" today, "from which point any investor will be able to buy and sell them through any Bodiva member financial intermediary".

The announcement of the offer and publication of the bond prospectus took place on August 8th and the subscription period ran from August 28th to September 12th.

Bodiva's schedule states that the financial and physical settlement of the bonds will take place today, the day before they are admitted to trading via MBOP.

Sonangol is the first non-financial company to list private bonds on the stock market. (Lusa/Sapo)