NICE and ERI-TEL distribute forms as regards sale of shares
Mr. Zeru Woldemichael, the Manager of the Corporation, explained that the form is accessible at the head office or its official website www.nice-eritrea.com, and that applicants should attach related bank advice with filled forms. Accordingly, the Corporation has opened special accounts at the Housing and Commerce Bank, as well as the Commercial Bank of Eritrea so as to serve the purpose.
Pointing out that one share is being sold at USD 7, Mr. Zeru disclosed that individuals can buy up to 50,000 shares, while businesses and Associations can purchase up to 500,000, given 20 as the smaller permissible number of shares for sales. The currency of transaction is the USD and payments should be done through the new accounts at the two Banks, he added.
Similarly, the Eritrean telecommunications company, EriTel, has distributed forms as regards sale of shares in line with the national plan to privatize such businesses on the basis of sole proprietorship or shares.
Mr. Tesfasilasie Berhane, the Manager of the company, explained that it has been finalizing preparations for sale of shares, which opportunity would become claimable for nationals as of February 1st 2013.
According to the company’s official website firstname.lastname@example.org, a total of 4.5 million shares are available for sale at a unit price of USD 50. Moreover, individual citizens can buy up to 50,000 shares, while businesses and Associations can purchase up to 500,000 shares, given 10 as the lowest permissible number of shares for sales.
The company further indicated that it has opened special accounts at the Housing and Commerce Bank, as well as the Commercial Bank of Eritrea so as to serve the purpose, and notified applicants that transactions are possible only through those accounts.