Habesha Breweries S.C sold 66,301 shares on November 16, 2013, following the company's decision to increase its capital to 550 million birr from the current 250 million birr , Fortune reported.

The Company issued 300,000 new shares and offered its existing shareholders 200,000 of the new shares without the premium, which is asked from new buyers, Fortune reported citing Yonas Alemu, Marketing & Business Development manager of Habesha Breweries.

The company's existing shareholders has bought 127,539 shares at 1,000 birr a share during the 40 days from July 1, 2013.

Habesha launched construction of its brewing plant in Debre Berhan town –125km north east of Addis Abeba –in September 2013.

Habesha is owned by 7,800 local shareholders and Bavaria N.V., the Dutch brewery gaint which which owns 49.9 percent of the Company.

Source: Fortune