Angola is preparing to take one of its biggest corporate bets to the public market, as Unitel, the country's largest telecommunications operator and a former crown jewel of Isabel dos Santos' business empire, launches an initial public offering (IPO) that will test investor confidence in the government's reform agenda.
The state-controlled telecom company has begun marketing a 15% stake through the Angola Debt and Securities Exchange (BODIVA), marking one of the largest listings in the country's young capital market.
The IPO will offer 7.5 million shares, with one million reserved for employees, while trading is expected to begin later this month after the subscription period closes, according to a BillionairesAfrica report.
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