Bank of Abyssinia Share Company (BoA), one of Ethiopia’s prominent private lenders, has secured regulatory registration for 18.125 million ordinary shares, paving the way for a potential listing on the Ethiopian Securities Exchange (ESX).
The Ethiopian Capital Market Authority (ECMA) approved the registration on January 29, 2026, covering 15 million existing shares held by current shareholders and 3.125 million new shares to be issued via a rights offer exclusively to existing shareholders at 1,600 Birr per share, according to the bank’s prospectus dated the same day.
Established in 1996 as a share company with an initial capital of 50 million Birr and 131 shareholders, BoA, has grown into one of the country’s leading financial institutions, offering conventional and interest-free banking services.
The bank’s latest move aligns with Ethiopia’s evolving capital markets framework under the Capital Market Proclamation and Public Offer Directive, requiring securities registration ahead of public trading or listing.
D and T Ethiopia Management Consulting PLC (Deloitte) served as the transaction advisor for the process, while Tewodros and Fikre Audit Service Partnership acted as the external auditor.
The ESX welcomed the development, granting approval in principle for a planned listing by introduction on its Main Board, subject to fulfilling remaining requirements. “This planned listing highlights the increasing readiness of Ethiopian financial institutions to engage with the capital market,” the exchange said in a statement. “It represents an important step toward deepening and diversifying Ethiopia’s capital market.”
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