Ethio Telecom has listed on the Ethiopian Securities Exchange, allowing ordinary citizens to own shares in the state-owned company for the first time.
Ethio Telecom listed on the Main Market of the Ethiopian Securities Exchange under the ticker symbol TELE. The move involved 10.1 million shares digitized and valued at 3.04 billion ETB, with 45,366 retail shareholders verified. The company verified 95.8 percent of the initial 47,377 buyers through Know Your Customer protocols. It is working with the Ethiopian Capital Market Authority and the Central Securities Depository. Some adjustments remain. A total of 1,646 shareholders are still unverified, and 248 foreign nationals were found ineligible for 105,000 shares that will be audited and refunded. The listing supports the Digital Ethiopia 2030 strategy. Ethio Telecom plans to hold its first Annual General Meeting as a listed company in the upcoming budget year.