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Angola Raises $224 Million From Standard Bank Unit Stake Sale, Standard Bank Boosts Stake to 75%
Angola raised 208.5 billion kwanzas ($224 million) from the sale of a 34% stake in Standard Bank Group Ltd.’s local unit, Standard Bank de Angola SA. Africa’s biggest lender, Standard Bank, increased its stake in the Angolan unit to 75% from 51%. Investor demand for the shares was almost double the amount offered, with orders totaling 403.4 billion kwanzas. The results of the offer were emailed on Monday by the Bodiva stock exchange in Luanda.
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