STO opens up sale of shares
25 Nov 2009, 2:27 PM
The State Trading Organisation (STO) has begun the sale of over 100,000 shares to the public today under the government’s privatisation policy.
Speaking at a press conference, Aishath Shaffana Rasheed, secretary general, said 138,472 shares will be up for sale from today to 10 January 2010.
When the sale of shares is complete, the share of the public in the company will increase from 7.71 per cent to 20 per cent and the government’s share in the company will be reduced from 92.29 per cent to 80 per cent,†she said.
She added the company aimed to eventually reduce the government’s share to 50 per cent.
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