Angola’s Etu Energias targets IPO in 2026

Angola

LUANDA, August 15, 2024 – Angola’s largest private oil company, Etu Energias, will hold an IPO in 2026, the company’s CEO Edson R. dos Santos stated last Wednesday.

The plan to go public follows the company’s USD 400-million acquisition of Galp Energia’s offshore stakes in Angolan blocks 32, 14 and 14K in June 2024. According to the company, it has also acquired onshore territory and plans to begin exploration drilling next year.

Dos Santos noted that the company is looking at a dual listing, stating, “Initially we wanted to look at dual listing between Angola and London. We ruled out Johannesburg as the first one, so it’s likely going to be Angola first and then the London Stock Exchange next.”

Etu Energias’ IPO plans come as indigenous players take on a growing role in Angola’s oil and gas sector.

Read our latest interview with Etu Energias here.

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