LONDON, May 31 (Reuters) - Ethiopian officials aim to raise some $750 million during a road show to launch the country's stock exchange, the head of its newly launched sovereign wealth fund Ethiopian Investment Holdings (EIH) said on Wednesday. The launch of the Ethiopian Securities Exchange is part of a broad plan by the government of Prime Minister Abiy Ahmed to establish local capital markets and privatise the economy. Formed in 2022 to manage government investments, EIH will own a quarter of the exchange and contribute $250 million. The road show aims to raise $750 million from private investors, which would own 75%, Abdurahman Eid Tahir, EIH chief executive officer, told Reuters. Conversations in London, including with the London Stock Exchange Group LSEG.L, have happened virtually thus far, Tahir said.

Source: Ethiopian News May 31, 2023 16:12 UTC