- Officials want to see ESX host at least 90 initial public offerings (IPOs) in the coming years.
- Shares, equity, and debt securities will be traded on the platform. Banks, state-owned enterprises (SOEs) and other eligible firms are eligible to list.
- Wegagen Bank has become among the first to offer equity on ESX
- Ethio telecom’s 10 percent stake offering is slated to go live on ESX, while at least four other SOEs under the Ethiopian Investment Holdings (EIH) are also expected to list.
- The banking industry is likely to be the first to brave the new market. An estimated 400,000 shareholders hold equity in the country’s commercial banks, and they will now be able to sell and buy shares on ESX at any time.
- Companies also will be able to issue debt securities, which so far have been limited to treasury bonds issued by the National Bank of Ethiopia (NBE).
News - Financial
Ethiopia’s long-anticipated stock exchange went live on Friday, January 10th.
