The Ethiopian Capital Market Authority (ECMA) has approved and registered the securities of Bank of Abyssinia S.C., marking an important step in aligning the bank with Ethiopia’s emerging capital market regulatory framework.
In a public notice issued pursuant to Articles 4 and 29 of the Public Offer and Trading of Securities Directive No. 1030/2024, the Authority confirmed that all securities offered or sold to the public must be registered unless expressly exempted. The directive also requires issuers to register securities already held by shareholders prior to its issuance.
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Accordingly, ECMA announced that it has registered a total of 15 million existing shares currently held by Bank of Abyssinia shareholders. In addition, the Authority approved the registration of 3.125 million new shares, which are set to be offered to existing shareholders through a rights offer.
The Authority emphasized that the notice is published strictly to inform the public of the registration of the securities. It does not constitute an endorsement of the offer, an offer to sell, or a solicitation to buy any securities.
The registration reflects ongoing efforts to bring Ethiopian financial institutions into compliance with the country’s evolving capital market regulations as the market infrastructure continues to take shape.
