The Ethiopian Capital Market Authority (ECMA) has approved the registration of Bank of Abyssinia S.C.’s securities, clearing the way for the bank to formalise its shareholding structure and proceed with a rights offer to existing investors.

Under the approval, the capital market watchdog has registered 15 million existing shares held by current shareholders, alongside 3.125 million new shares earmarked for issuance through a rights offering to existing investors. The move follows the Public Offer and Trading of Securities Directive No. 1030/2024, which requires all securities offered to the public to be registered with the regulator unless specifically exempted.

The registration makes Bank of Abyssinia the fourth institution to receive ECMA approval for listing, joining Wegagen Bank, Gadaa Bank and Ethio Telecom, which have completed the regulatory process and are formally listed on the Ethiopian Securities Exchange. ECMA clarified that the notice serves purely to inform the public of the registration and does not constitute an offer or solicitation to buy or sell the bank’s shares.