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Cahora Bassa announces IPO

7th June 2019

By: Tasneem Bulbulia

Deputy Editor Online

     

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Hidroeléctrica de Cahora Bassa (HCB), the Mozambique concessionaire of the Cahora Bassa hydroelectric plant, has announced the launch of its initial public offering (IPO) for up to 7.5% of its shares to individual Mozambique nationals and collective national investors.

The IPO will see a first tranche of 2.5% of its shares becoming available on the Bolsa de Valores de Moçambique.

HCB shares will be sold at three meticais each in the subscription period from June 17 to July 12.

Individuals will be able to place purchase orders through various Mozambique banks’ branch networks, but also through a USSD mobile application and a mobile app, as well as through Internet banking.

The intention to offer all Mozambicans the right to directly own a portion of this important national asset was announced by Mozambique President Filipe Nyusi in November 2017.

Edited by Martin Zhuwakinyu
Creamer Media Magazine Managing Editor

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