Dashen Bank Share Company has launched a 6.4 billion birr rights offer to its existing shareholders, marking a major capital-raising step ahead of its listing on the Ethiopian Securities Exchange (ESX). As one of Ethiopia's largest private banks, Dashen aims to bolster its position in the evolving financial sector through this initiative, approved by shareholders in a general assembly under the Capital Market Proclamation.
Dashen Bank Share Company has unveiled a 6.4 billion birr rights offer to its existing shareholders, a pivotal move in Ethiopia's accelerating financial sector liberalization. This capital-raising effort positions the bank, one of the country's largest private institutions, for its upcoming listing on the main board of the Ethiopian Securities Exchange (ESX).
According to the approved prospectus, the bank is issuing 2,206,906 new ordinary shares at 2,900 birr each, with subscriptions open from December 25, 2025, to February 11, 2026. The offer was authorized by a shareholders' general assembly resolution, in line with the Capital Market Proclamation, the Public Offer Directive, and Dashen's Memorandum of Association.
Primarily targeting current shareholders, the rights offer grants pre-emptive participation proportional to holdings. Each eligible shareholder receives tradeable rights that can be exercised to purchase new shares, sold to others, or allowed to lapse, offering flexibility in participation.
Sector experts view this transaction as key to Dashen's strategy for strengthening its capital base and funding digital and operational transformations. A key result will be the admission of all Dashen ordinary shares— the existing 14.3 million plus the new issuance—to trading on the ESX, with listing scheduled for February 23, 2026.
Proceeds are allocated to strategic priorities, including enhancing regulatory capital buffers, expanding digital banking channels like the Dashen Bank SuperApp, and supporting growth in corporate, retail, MSME, and interest-free banking segments. The bank describes the rights offer as essential for scaling and building resilience amid intensifying competition.
