(Ecofin Agency) - Cabo Verde plans to open 10% of the capital of state-owned airline company Cabo Verde Airlines (TACV) on the local stock exchange. This was announced by the state minister of parliamentary affairs Fernando Elísio Freire (photo) announced on April 29, 2019.

According to the official’s statement relayed by local media Inforpress, 100,000 shares are to be listed at CVE1,457 ($14.78) each.

He also reminded that after 51% of Cabo Verde Airlines was transferred to Loftleidir Cabo Verde, a subsidiary of Icelandic firm Icelandair, the state had 49% of the capital of TACV. The state will transfer 5% of the capital to the airlines’ employees and an additional 5% to members of the Cabo Verdean diaspora.