Last Updated: 26 July 2019
The Cahora Bassa Hydroelectric Plant announced publicly yesterday, May 20, in Maputo. The terms and conditions of the Tender Offer. The ceremony was attended by the Banco de Moçambique (capital market regulator), members of the Board of Directors of HCB and BVM, top managers of commercial banks, insurance companies, corporate clients of banks and potential investors and other guests.
The 2.5% represents 680 million shares of the 7.5% that the company intends to sell as part of the recommendation made to the shareholders by the President of the Republic, Filipe Jacinto Nyusi with the aim of promoting the economic inclusion of Mozambicans.
During his speech, HCB's PCA, Pedro Couto, said that the price of each action will cost three meticais (3.00 MT), and all eligible citizens, companies and institutions will be able to subscribe for the purchase through the available platforms (bank counters, M-pesa, e-Banking, Smartphones platform and USSD technology), to cover all Mozambican citizens who are in remote areas and who do not have a bank account, given the low level of banking still prevalent in the country.
He assured potential investors that HCB is financially robust and pays dividends to its shareholders annually, and buying shares may also mean making sure that the amount invested will have a good return.
For BVM's PCA, Salim Valá, this HCB operation via the Stock Exchange will undoubtedly increase stock market capitalization, market liquidity, transaction volume, attract new investors and will also attract interest from other companies. capital markets and the Stock Exchange in particular.
At present we have registered in the Central of Securities approximately 7,750 investors and with this dispersion of the capital of HCB, "we predict that this number increase to about 40 thousand investors". concluded Valá.
Speaking of the structuring of the public offering, "BCI's PCE, Paulo Sousa, assured that everything is taken care of to ensure that even Mozambicans who are outside the formal bank can own HCB.
He also informed that the minimum lot of underwriting for small national investors is 20 shares corresponding to 60.00 MT, and the maximum for this segment is 7,500 shares, which cost 22,500.00 MT and for the singular national investors, the minimum lot thousand shares while for legal entities, the minimum allowed is 20,0000 shares.Photo Events