Angolan bank BFA pushes for $240M IPO

Angolan bank BFA pushes for $240M IPO

Angolan bank BFA will seek to raise up to $240 million in what looks set to be the country’s biggest ever initial public offering, as the oil-producing country expands its privatization drive.BFA’s majority owner, the state-run telecommunications company Unitel, will sell a 15% stake while Portuguese bank Banco BPI will sell a 14.75% stake, in a move that will see the bank valued at about $800 million, according to Bloomberg. The public offer wi…