Ethio Telecom Set to Launch Intended ESX Listing with Upcoming Share Offer

Ethio Telecom is preparing for an Intended ESX Listing, anticipated to be completed within twelve months following an upcoming share offer. The company must secure approvals from its Board and shareholders, attract new investors, and meet regulatory requirements set by the Ethiopian Capital Market Authority (ECMA).

The share offer includes 100 million ordinary shares priced at ETB 300 each, representing 10% of Ethio Telecom’s paid-up capital. Proceeds from the sale will go to the Majority Shareholder, not the company.

Applications will be processed via the Telebirr Superapp starting midnight on October 17, 2024. This offer is exclusive to Ethiopian citizens present in the country, with a minimum application of 33 shares (ETB 9,900) and a maximum of 3,333 shares (ETB 999,900). Payments must be made within 48 hours of application, as they are non-refundable.

Ethio Telecom is committed to enhancing its governance and internal processes for the ESX and ECMA, marking a significant move to strengthen its market presence. However, the company cautions that the success of the Intended ESX Listing within the desired timeline is not guaranteed and will explore alternatives if needed.