Ethio Telecom on Wednesday offered its stocks for sale to individuals. Ethiopian citizens can buy Ethio Telecom shares on Telebirr mobile application. Institutions are now permitted to buy the stocks. Prime Minister of Ethiopia Abiy Ahmed and Ethio Telecom CEO Frehiwot Tamiru launched the partial privatization of the state owned telecommunication company at the Sheraton, Taitu Street, on Wednesday.
Ethio Telecom is offering 100 million shares in this first round of share sales. The price of one share is 300 Birr. A person can buy 33 shares at a minimum and 3,333 at the maximum. The sale of Ethio Telecom stocks will continue from October 16 to January 3, 2025.
The investors can only buy Ethio Telecom shares on Telebirr mobile application. Telebirr is a digital cash that enables subscribers access a variety of financial services using their mobile phone without the need to have a bank account.
An Ethiopian Ethio Telecom subscriber having a mobile phone with Telebirr installed can buy Ethio Telecom shares. After the installation of Telebirr application on mobile, one needs to create Telebirr account by sharing personal information including identity card and personal photograph. Once Telebirr is installed on mobile phone, the mobile user can fund his account and buy Ethio Telecom shares making payment through the Telebirr account.
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