Angola's Sonangol Prepares for Landmark IPO ...Middle East

OILPRICE - Economy
Angolas Sonangol Prepares for Landmark IPO
source : OILPRICE ( Middle East ) () 72
Angola’s state oil company, Sonangol, is preparing to list up to 30% of its shares in an initial public offering (IPO) sometime in the next 24 months in what would be a milestone that could reshape not only the company itself but the country’s broader economic trajectory. For decades, Sonangol has been more than a petroleum producer, acting also as Angola’s financial engine and a political tool as well as a national symbol. The decision to partially privatize the company is, therefore, far more than a market exercise, it is a…

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