The Mozambique Stock Exchange (BVM) announced on Monday, 2 January, the admission of one more company, increasing the number of listed companies from 11 to 12.
“This operation allowed us to reach a total of 12 companies listed on the stock exchange, contributing to the promotion of the capital market in Mozambique,” said Salim Valá, president of the BVM, quoted in a statement from the institution.
The new company listed on BVM is Tropigália, a food and beverage distributor founded in 2004 and which is also an importer of several Portuguese brands.
For Tropigália’s president, Adolfo Correia, the company’s entry into the BVM represents a historic milestone, highlighting the addition of “another thousand investors in its shareholder structure and the raising of about five million dollars.”
“The amount raised in the public operation will allow the company to maintain its expansionist policy, building more distribution centers and warehouses throughout the country, thus ensuring an increase in the company’s logistics capacity and a consequent increase in partners,” said Adolfo Correia.
The Mozambique Stock Exchange was created in 1998.