Sonangol may sell 56 million BCP shares to stay below 20%
By the AFREEQUE newsroom, based on Mercado
Angolan state oil company Sonangol may have to sell about 56 million shares in Banco Comercial Português, valued at 62 million euros, to keep its stake below 20%. The Portuguese bank’s share buyback programme reduces the number of shares in circulation and could push Sonangol over the threshold; it held 19.9% of the capital as at 30 June 2026, according to Mercado.
Sonangol, Angola’s state oil company, may sell about 56 million shares in Banco Comercial Português (BCP), the Portuguese bank, to keep its stake below 20%. The shares are valued at nearly 62 million euros, according to Mercado. Sonangol currently holds 19.9% of BCP’s capital, equivalent to 2,946,353,914 shares as at 30 June 2026.
The sale would be required because of BCP’s share buyback programme, which reduces the number of shares in circulation and mechanically increases the proportion held by shareholders who retain their shares. Approved in May 2026, the programme is worth about 407.5 million euros and is due to run from 4 June to 4 December, unless it closes early, according to Mercado.
The buyback is part of BCP’s 2025-2028 strategic plan. Together with ordinary dividend payments, the bank expects to distribute up to 90% to shareholders, subject to the conditions announced by the institution cited by Mercado.
Summary produced with the help of artificial intelligence tools, under AFREEQUE’s editorial responsibility.
