africa capital markets Economy Energy Finance Government M&A Mozambique

Mozambique: Cahora Bassa launches tender to sell 7.5% of its capital

The Cahora Bassa Hydroelectric Dam (HCB) has launched a public tender to hire of the entity that will lead the process of selling a 7.5% stake in the company’s share capital through the Mozambique Stock Exchange (BVM), HCB said in a statement posted on its website.

The statement added that the tender is aimed at hiring the leading financial intermediary to provide services for organisation, registration, authorisation, publicity, launch, and execution of the Public Sale Offer of shares of HCB.

“The process of selling 7.5% of HCB’s shares through BVM will contribute to the promotion of the economic inclusion of Mozambicans as well as to the consolidation of the credibility of the Hydroelectric plant with the main national and international partners, notably financial institutions, as it demonstrates the company’s compliance with internationally accepted good practices of corporate governance and permanent public scrutiny,” the statement said.

The announcement of the entry of new Mozambican shareholders into the capital of HCB was made in November 2017, by the President of the Republic Filipe Nyusi, at the ceremony that marked the tenth anniversary of the agreement signed between Portugal and Mozambique that sanctioned the change in the shareholder structure of the facility.

Source: macauhub

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