Addis Ababa – March 4, 2025 (ABN)
Addis Fortune reported that Wegagen Bank has become a pioneer in the sale of its auxiliary shares on Ethiopia’s capital market. The bank has registered 6.2 million auxiliary shares for trading, with each share valued at 1,000 birr
These shares are not newly issued but were previously held by the bank’s shareholders. The bank’s management passed a resolution to make these shares available for trading on the capital market.
Shewandagn Ismail, CEO of the Ethiopian Securities Exchange (ESX), which oversees the capital market, confirmed that Wegagen Bank’s auxiliary shares have been duly accredited following the necessary regulatory review. According to the report, Wegagen Bank is set to participate in the capital market, which is expected to commence operations in the coming months.
This move marks a significant step in the development of Ethiopia’s capital market and highlights Wegagen Bank’s proactive approach to leveraging new financial opportunities.
Stay Connected with the Latest Ethiopian News and Business Insights
Follow Abyssinia Business Network (ABN) for updates:
- Telegram: t.me/AbyssiniaBusinessNetwork12
- Facebook: Abyssinia Business Network
- Twitter/X: @AbyssiniaABN25
- Instagram: @abyssinia_business_network
- Threads: @abyssinia_business_network
- YouTube: Abyssinia Business Network
For inquiries or to share information, please contact us at:
info@abyssiniabusinessnetwork.com
