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PLMJ and PLMJ Colab Angola – RVA Advogados advised Standard Bank Group Limited on the public offering and admission to trading of Standard Bank de Angola, S.A. (SBA) shares on the Angolan Debt and Securities Exchange (BODIVA).
The transaction involved a public offering of shares representing 34% of SBA’s share capital. This was carried out as part of the programme to privatise the Angolan state’s stake, held through IGAPE (the Institute for the Management of State Assets and Shareholdings), with total proceeds amounting to approximately AOA 208 billion (around USD 230 million). Standard Bank Group Limited acquired 24% of SBA’s share capital, thereby consolidating its position as the majority shareholder of one of Angola’s leading commercial banks.
The offer was met with strong demand from investors, with subscriptions exceeding the number of shares on offer by more than three times. The process resulted in over 6,000 new shareholders joining SBA’s share capital, marking a significant milestone in the development of Angola’s capital market.
The results of the public offering were announced on 28 September 2026, and on 30 September 2026, SBA’s shares were officially admitted to trading on BODIVA.
PLMJ and PLMJ Colab Angola – RVA Advogados provided Standard Bank Group Limited with comprehensive legal advice throughout the entire privatisation and listing process, covering corporate, regulatory, and capital markets matters. The transaction was led by partners Raquel Azevedo and Gonçalo dos Reis Martins from the Banking and Finance and Capital Markets practices. They were supported by a multidisciplinary team comprising Renata Valenti (Corporate M&A), Isaque Ramos (Tax), Madalena Perestrelo de Oliveira (Banking & Finance and Corporate M&A), Joana Marques dos Reis (Banking & Finance) and José Luquinda (PLMJ Colab Angola – RVA Advogados).