18,000 shares sold by end of Thursday: STO

Male, September 9 (HNS) – State Trading Organisation (STO) said on Sunday that since it started offering shares to the public, it has sold 18,000 shares by the end of Thursday. STO's Deputy Director Ismail Ibrahim said that shares are being sold gradually during the past 20 days since STO started selling shares. STO had estimated that 111,555 shares, including 4,000 shares for the employees of the company, would be sold within one month. Ibrahim said that the employees have also not bought their shares. The prospectus issued by STO said that the duration of selling shares could be extended if all shares are not sold within one month. STO said that it has not yet made a decision on this issue. STO is selling a share with a face value of Rf50 for a price of Rf300. The company began selling shares on July 15.