Mozambique: Cahora Bassa IPO is this year’s ‘Equity Winner Africa’ at The Banker Deals of the Year Awards

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Mozambique: Cahora Bassa IPO is this year’s ‘Equity Winner Africa’ at The Banker Deals of the Year Awards

3:07 CAT | 06 May 2020

File photo: Lusa

The initial public offering (IPO) of 4.0% of the shares of Hidroeléctrica de Cahora Bassa (HCB) SA in July 2019, and entirely dedicated to Mozambican citizens, companies and institutions, has won the prestigious Deal of the Year 2020 – Equity Winner Africa award by international magazine The Banker.

The prize was awarded in recognition of the results achieved. “Not only did the size of the transaction represent a challenge, but also the fact that in an economy where a large proportion of the population is not yet bankable, reaching the common investor was a major challenge,” The Banker comments.

The Banker called the transaction a major milestone for the country, which had never witnessed such an IPO before, with the number of investors registered on the Mozambique Stock Exchange almost tripling from less than 8,000 to approximately 23,000 as a result of the transaction.

The magazine also highlighted the fact that more than a third of the subscription orders were carried out using remote channels specially developed to ensure the scope and inclusion of the operation.

The Banker is a published by the Financial Times Group and provides economic and financial intelligence information to the global financial sector. It has been operating in the market since 1926, presenting objective and incisive reports and banking information, while maintaining a reputation for accuracy, authority and integrity.

This is the second time that the Cahora Bassa Hydroelectric IPO has won international recognition, after winning the DealMakers Africa Special Recognition Award in March this year.

Source: Hidroeléctrica de Cahora Bassa / Press Release