Angola's oil company Grupo Sonangol continues to prepare for an IPO, despite being excluded from the list of privatized companies. This is reported by foreign media with reference to one of the top managers of Sonangol.
The company has completed the sale of debt obligations and established an investor relations office in preparation for the proposed stock offering on the stock exchange. Sonangol was recently removed from the latest list of companies to be privatized under the government's Propriv program, which runs until the end of 2026.
The IPO, which was first announced in 2022, will be an important milestone in increasing transparency and attracting foreign investment, taking into account the Angolan government's desire to reduce government involvement in the economy. Initially, it was planned to sell 30% of Sonangol shares to local and international investors.
In 2025, Sonangol's revenue fell by 13% to $9.1 billion amid a 14% drop in the price of Angolan oil to $69.09 per barrel. At the same time, net profit will exceed $750 million in 2025.
Sonangol Grupo Sonangol Sonangol is the Angolan state oil company with the exclusive right to produce oil and gas in the country. The company was founded as part of the nationalization of oil production in 1976 and is the second largest oil and gas company in Africa after the Algerian Sonatrach. The headquarters is located in Luanda (Angola).
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