Ten companies under the Endowment Organization registered in Amhara National Regional State TIRET are ready to offer shares for public subscription, Abate Sitotaw deputy CEO of the corporate said.
Ambassel Trading House, Tikur Abay Transport PLC, Bahir Dar Textile Factory, Kombolcha Textile Factory, and other agro-processing factories are some of the companies that are going to sell shares.
Decisions are passed to sell the entire shares of the companies to private investors, said Abate yesterday in an event organized by the region’s Urban Development, Trade & Industry Bureau in Bahir Dar.
TIRET which was established in 1995 as an Endowment Organization registered in Amhara National Regional State with the initial capital of over 26 million Birr is engaged in manufacturing, service, construction, Agro Processing, sectors.
According to the information from the corporates website, TIRET’s present total assets valuation inclusive of shares and stocks in other companies estimated above 9.8 billion birr /USD $460 million.
Finally, the Abate urge the regional investors to actively participate in buying shares of these companies and support the development of the region.
Last week, a similar decision was announced by Tigray regional government to sell shares of three companies run under endowment fund for rehabilitation of Tigray.