News24 Business | Business brief | Harmony reports yet another fatality; Ethio Telecom's IPO comes in low

News24 Business | Business brief | Harmony reports yet another fatality; Ethio Telecom's IPO comes in low

An overview of the biggest business developments in SA and beyond.

Ethio Telecom Sells 10.7 Million Shares Valued at 32 Billion Birr – Ethiopian Monitor

Ethio Telecom, Ethiopia’s largest telecom operator, sold 10.7 million shares valued at nearly 32 billion birr but fell short of its target for the initial public offering. The telecom firm with official market capitalization of 100 billion birr issued the IPO to raise equity by selling its 10 percent ownership stake after registering as a share company under the Ethiopian Commercial Code. The share sale – conducted through Telebirr digital money…