Lalibela Share Cement Factory, a subsidiary of Tiret Endowment, has started selling shares to the general public on June 30, 2011. The sale of shares will continue until June 30, 2012, it announced.
Lalibela has made a public offering of 246,000 shares, with each share valued at ETB5000, with the aim to raise ETB1.2bn. A minimum of three shares must be purchased, and the maximum number of shares that can be purchased is 52,800 shares.
Lalibela plans to raise ETB880m, 40 per cent from bank loans, and ETB1.3bn, 60 per cent through the sale of shares, to reach a target of ETB2.2bn.