the rulling political elite is governing the agency and no international / independent regulator. The books can be cooked anytime and profit sharing can be manipulated or revised anytime.
Ethio telecom worth about 106B birr but they multiplied it by 3 and made it 300B, in that case last yr profit is 27b which is 9% ..after they allocate money to the government and pay tax, do the maths how much would be allocated for dividend ???
Thanks for the advise. I wish you can comment on something...this thing is selling at premium, as the par value is 100 birr (page 14 of the prospectus), do you think a premium value of 200 birr (200%) is warranted ?
The fact that the ethio telecom is allowed to trade its stock on its own platform and and allowed to put ceiling on the maximum one can buy though only 10 percent of the agency is floated shows that the exchange market agency is under pressure by the gov and harms its credibility. This is not a good begning.
