Angola raises $329 million in landmark Unitel IPO as demand surpasses offerings

In a major win for the country’s privatization campaign, the Angolan government has successfully raised 300.3 billion kwanzas ($329 million) through the sale of a 15% stake in state-controlled telecommunications giant Unitel . Strong investor appetite pushed overall demand more than 20% past the total shares available. According to final offer results released on Monday, the initial public offering (IPO) achieved an impressive 120.72% subscription rate, underscoring robust market demand for one