Hidroeléctrica de Cahora Bassa (HCB), the Mozambican 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 Mozambican 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 Mozambican banks’ branch networks but also through a USSD mobile application, a mobile app and via 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.