Ethio Telecom has achieved a major milestone as it officially listed on the Ethiopian Securities Exchange, paving the way for its shareholders to freely trade shares on the stock market.
According to the latest update, 96% of investors who purchased Ethio Telecom shares have successfully completed verification and are now recognized as verified shareholders.
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Key Highlights:
- Out of 47,377 Ethiopian investors who bought shares, 45,000 have fully completed the required verification process.
- This allows them to sell, transfer, and manage their shares on the Ethiopian capital market.
- The remaining 3.4% (1,646 investors) are still pending due to failure to submit their National ID (Fayda). They will be able to proceed once they provide the required documents.
- 248 foreign investors who purchased shares were not approved. Their payments will be refunded.
Frehiwot Tamiru, CEO of Ethio Telecom, explained that the verification process took time because many shareholders had missing or incomplete information. She confirmed that the share allocation and approval processes have been completed, and the listing has received final approval from the Capital Market Authority.
“Following the official registration of Ethio Telecom as a share company, shareholders can now buy and sell shares on the stock market,” the company stated.
This listing marks a historic moment for Ethiopia’s capital market. Verified shareholders of Ethio Telecom can now actively participate in the secondary market buying, selling, and transferring their shares freely.
The development is expected to boost market liquidity and increase investor confidence in Ethiopia’s young stock market.
Source: Tikvah
