ESX unveils stringent listing requirements

Addis Ababa, April 4, 2024 (FBC) – The Ethiopian Securities Exchange (ESX) today confirmed that it has concluded its share offering upon amassing 1.5 billion birr in subscribed capital from numerous investors, encompassing three foreign entities.

The Trade and Development Bank Group (TDB), the financial subsidiary of the 21-member Common Market for Eastern and Southern Africa (COMESA), has reportedly procured an undisclosed interest in the inaugural Ethiopian capital market.

It is learned that the African Development Bank (AfDB) and the Arab Bank for Economic Development in Africa (BADEA) stand as TDB’s principal stakeholders.

FSD Africa, deeply engaged in the inception of ESX, along with the Nigerian Exchange Group (NGX), represents the remaining two foreign investors.

Among ESX’s local shareholders are 16 commercial banks, 12 insurers, and 17 private enterprises, in addition to five state-owned entities falling under Ethiopian Investment Holdings (EIH).

https://www.fanabc.com/english/esx-concludes-share-offering-with-1-5bn-birr-from-investors/