Ethio Telecom Lists After Raising 3.2 Billion Birr in Ethiopia’s First IPO

1 articles · Updated · Bloomberg · May 26

Ethio Telecom began trading on Ethiopia’s stock market more than a year after closing the country’s first initial public offering.
3.2 billion birr, or about $20 million, was raised after the state offered 100 million shares and sold just under 11% of them.
The listing marks a milestone for Ethiopia’s nascent bourse, completing the maiden IPO in a market still at an early stage of development.

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