Ethio Telecom has officially listed on the Ethiopian Securities Exchange (ESX), becoming one of the first major corporate listings on the country’s newly launched stock market.
The listing was announced Tuesday by Ethio Telecom Chief Executive Officer Frehiwot Tamru during a ceremony held in Addis Ababa.
The move follows the telecom operator’s partial privatization through a public share sale launched in October 2024, in which the government offered a 10% stake to local investors as part of broader economic reform efforts aimed at opening key state-owned enterprises to private participation.
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The offering comprised 100 million shares priced at 300 birr each, representing the full stake offered to the public.
Frehiwot said shareholders can now transfer and sell their shares through the ESX platform.
“Now, the shareholders can easily transfer and sell at the ESX platform,” she said.
ESX Chief Executive Officer Tilahun Kassahun said Ethio Telecom’s entry into the market would significantly increase the exchange’s market capitalization given the company’s size and the scale of the offering.
“After today ESX will have billions of dollar market capitalization and we’ll be rise to developing market from that of startup market as of today,” Tilahun said.
According to Ethio Telecom, 47,377 investors purchased shares in the company, with approximately 10.7 million shares sold for about 3.2 billion birr, out of the 100 million shares offered.
The company said around 45,000 shareholders holding roughly 10.1 million shares have completed verification procedures, representing about 96% of subscribed shares eligible for trading.
