Shares in fuel company Enacol, which have been showing substantial appreciation, are now worth 7,000 escudos each, significantly more than in May of this year, when the shares were placed for sale on the Cape Verde Stock Exchange at 4,400 escudos. The trading volume of the company’s shares has reached 687,516,896 escudos, a record for Cape Verde’s fledgling bourse.

Enacol’s shares show the greatest appreciation of all of the stocks listed on the Cape Verde Stock Exchange over the past seven months.

Enacol’s privatization process, which began in 1997, was concluded in April of this year. Currently, Portugal’s Petrogal and Angola’s Sonangol together detain 65% of the company’s capital, with a 2.1% golden share held by the State of Cape Verde, 2.5% held by the company’s workers and 30.4% by other shareholders.

Source: A Semana