A bourse thinking bigger

摘要

Mozambique's stock exchange, the Bolsa de Valores de Mocambique (BVM), is celebrating its 20th anniversary in 2019. The exchange marked the milestone with the initial public offering (IPO) of a stake in HCB, operator of the Cahora Bassa hydroelectric dam, the largest in southern Africa. Yet while the IPO, the country's largest in several years, is expected to be the first of many, the BVM remains a shallow market at heart.