Ethiopia - Habesha Cement sells 70,000 shares

Ethiopia - Habesha Cement sells 70,000 shares
Published: 09 March 2009

Habesha Cement has sold 70,000 shares worth 70 million birr in the last four months.

The par value of each share is 1000 birr and the minimum amount of shares an individual can buy is five. More than 2000 people have bought shares in the company, the biggest Ethiopian share company when fully subscribed.

Eskindir Desta, board executive secretary, told The Reporter that the share company was established last September by 30 individuals who had together contributed 600,000 birr. Eskindir said promoters of the new company began to sell shares in October with the view to sellinging 660,000 shares to 10,000 Ethiopians living here and abroad and to raise a capital of 660 million birr.