Coris Holding has significantly increased its stake in Cabo Verde’s Banco Comercial do Atlântico (BCA) from 59.81% to 62.25%. This change follows a public offering and was announced by the Cabo Verde stock exchange.
Details of the Acquisition
The transaction included acquiring shares from Caixa Geral de Depósitos, a move completed earlier in January. This purchase gave Coris Holding control over the bank and mandated a public acquisition offer for the remaining shares.
Public Offering Results
The public offering targeted 532,413 shares, which represent 40.19% of BCA’s total capital. The offered price was set at 14,918 Cabo Verdean escudos (approximately 135 euros) per share.
- Total shares offered: 532,413
- Percentage of capital targeted: 40.19%
- Price per share: 14,918 escudos (135 euros)
Out of the public offering, 20 acceptance orders were submitted, corresponding to 32,300 shares. This figure amounts to about 6.07% of the shares offered. Post-offer, approximately 500,113 shares remain outside Coris Holding, distributed among 672 other shareholders, amounting to 17.25% of BCA’s capital.
Shareholder Sentiment
Gilberto Barros, Chairman of BCA’s Board, commented that many existing shareholders seem eager to retain their stakes. He noted their belief in Coris Holding as the new reference shareholder of BCA.
Coris Holding’s Commitment
Coris Holding asserts its intent to support Cabo Verde’s economy through financing initiatives. The focus will extend to businesses, individuals, and government projects that aim to transform the local economy.
Current Shareholders
The ownership structure at BCA also includes:
- Instituto Nacional de Previdência Social (INPS): 12.54%
- Garantia (part of the Fidelidade group): 5.79%
- Aeroportos e Segurança Aérea (ASA): 2.17%
This strategic move by Coris Holding reflects a broader commitment to enhance economic growth and development in Cabo Verde.
