The distribution company Tropigalia announced this Tuesday the sale of 3 078 507 class B shares, representing 10% of its total shareholding structure.

The shares valued at 360 million meticals will be available to interested parties between October 17 and November 4. The sale will be led by the Mozambique Stock Exchange.

Each share will be sold at 120 meticais. Young people up to 30 years of age will have priority, and can buy the shares at the subsidized price of 100 meticais between October 17 and 21. The minimum lot is 50 shares and the maximum lot is 10 thousand shares per investor.

For those who acquire the shares will have no decision-making power, more will enjoy dividends. "Whoever invests in our operation does so to obtain dividends and not to manage the company; this responsibility remains strictly as it has been over the past 18 years," explained Tropigalia's founder and majority shareholder, Adolfo Correia, quoted by "O País".

This is the first Public Offering operation carried out by a private capital company, after five public or at least state-supported ones.