Angola launched its largest-ever initial public offering for Unitel SA, the nation's dominant telecommunications operator, aiming to raise approximately $320 million. The government is selling a 15% stake in the company on the local stock exchange as part of its privatization program, PROPRIV.

The offering, which opened Monday and closes July 24, 2026, includes 7.5 million ordinary shares priced between 36,036 and 40,040 kwanzas. A 2% stake is reserved for Unitel employees, with the remainder available to the public. This privatization follows the government's 2022 nationalization of a stake previously held by Vidatel, linked to Isabel dos Santos.

Unitel boasts over 21 million customers, making this listing a significant test of investor appetite for Angolan state asset sales. The proceeds will support the national budget and aim to deepen the country's capital markets. Trading is expected to commence around July 29, 2026, on the Angola Debt and Securities Exchange (BODIVA).