Ethiopia launched a tendering process for the proposed sell-off of a 40% stake in state-owned carrier Ethio Telecom to private investors, part of the government's broader plan to open up the Horn of Africa country's economy.
The company says its board of directors has approved the preferential issue of up to 59.5 crore equity shares and up to 73 crore warrants convertible into an equivalent number of equity shares at an issue price of Rs 10 each by conversion of debt.
The board also approved seeking to enable authorisations of members for issuance of foreign currency convertible bonds and securities through qualified institutions placement.
Reliance Power says it has one of the largest portfolios of power projects in the private sector in India, based on coal, gas and renewable energy, with an operating portfolio of 5,945 megawatts.