Ovid Housing Bank SA (under formation) on sale of shares The Reporter | Latest Ethiopian News Today

Ovid Beit Bank SA (under establishment) Article 245 of the Commercial Law of Ethiopia፣In accordance with the Banking Decree No. 592/2000 and the Decree No. 1159/2011 issued to amend the Banking Decree, it started the sale of shares in accordance with the permission obtained from the National Bank of Ethiopia to establish and sell shares as a joint stock company.

Ovid Housing Bank SA (under formation) organizers are informing the buyers of shares who want to be the founding shareholders of the bank that it is under formation in accordance with Article 259 of the Ethiopian Commercial Law, in order to facilitate the sale of shares, according to the approval of the National Bank of Ethiopia, closed accounts in various commercial banks (for the purchase of principal shares) and A mobile account (for service payment) has been opened and the sale is being carried out.

Therefore, by making the bank inclusive and accessible to financial services, and by collecting resources from the community, mainly by providing loans for housing purchase, construction, renovation and improvement, by contributing to the reduction of the housing shortage of the citizens, we are revealing that we are working with the intention of making the shareholders a profitable and reliable profit share. We invite humility and respect.

ofWhat to sell AccSYon sort of፣ quantity, Price And sale

1. The bank’s shares are identical and ordinary shares of equal value.
2. The number of shares offered for sale is 20,000,000 (twenty million).
3. The price of one share is Birr 1,000.00 (one thousand Birr).
4. A shareholder must purchase a minimum number of shares of 200 (two hundred) or shares worth 200,000.00 (two hundred thousand).
5. The maximum number of shares that a shareholder can purchase is 1,000,000 (one million) or 1,000,000,000.00 (one billion) worth of shares.
6. A shareholder must pay at least 25% (twenty-five percent) of the shares he has signed to purchase as described in the above order no.
7. A shareholder has to pay a service charge of 5% (five percent) of the amount of shares he subscribes to buy.

ReminderThe sale of shares will be done to Ethiopian citizens in silver, and for foreign nationals who are Ethiopians, they can only make the purchase with the funds of foreign countries accepted according to National Bank Instruction No. SBB/73/2020.

Organizer Members

1. Dr. Yitbarak Takele ……… Chairman
2. Ato Aby Girma …………. M/Collector
3. Ato Zemedeneh Ngatu ………. Member
4. Mr. Jared Birhane …………. Member
5. Mrs. Seh Gese ………….. member
6. Mrs. Getenesh Tadese… Member and Secretary

Stock sale to be carried out BanKoch List

1. Commercial Bank of Ethiopia 6. Daman Bank SC
2. Abyssinia Bank SC 7. Wagen Bank SC
3. Dashan Bank SC 8. Union Bank SC
4. Sun Bank SC 9. Oromia Cooperative Bank SC
5. Amara Bank SC

For more information, please contact the bank’s project office located on the 4th floor of Atlas area, Platinum Plaza, or call 0904151411.