IPO of HCB distinguished with international prize
Deal of the Year – Equity Winner 2020
The operation of the Public Offering (IPO) of 4.0% of the shares of Hidroeléctrica de Cahora Bassa (HCB), S.A., held in July 2019, entirely dedicated to Mozambican citizens, companies and institutions, was awarded the prestigious Deal of the Year 2020 – Equity Winner Africa award by The Banker international magazine, May 2020 edition.
The award was given in recognition of their successful results “not only did the size of the transaction pose a challenge, but also the fact that in an economy where a large amount of the population is still not banking, reaching the average investor was a huge challenge,” announced The Banker.
The Banker noted that the transaction is a significant milestone for the country, as it had never before witnessed an IPO of this scale, with the number of investors registered on the Mozambique Stock Exchange almost tripling from less than 8,000 to approximately 23,000 following the transaction.
The magazine also highlighted the fact that more than a third of subscription orders were carried out using remote channels, such as cell phones without the need for internet, specially developed to ensure the reach and inclusiveness of the operation.
The Banker is a Financial Times Group publication that provides economic and financial intelligence information for the global financial sector. It has been operating in the market since 1926, providing objective and factual reports with banking information while maintaining a reputation for accuracy, authority and integrity.
This is the second time that HCB’s IPO has been awarded an international recognition prize, after it received the Special Recognition Award from DealMakers Africa, in March this year.
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