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Prime Minister Abiy Ahmed launched the IPO on October 16, 2024, during a ceremony at the Sheraton Addis, where 100 million shares in the state-owned giant were sold at a value of 300 birr per share.
The Ethiopian Capital Markets Authority (ECMA) says Telebirr’s know-your-customer (KYC) and security features as well as its simplicity make it an ideal vessel for offering 10 percent equity in Ethio telecom to the general public. Experts and analysts, however, warn that low financial literacy and unfamiliarity with securities trading could spell disaster for potential investors.
Prime Minister Abiy Ahmed launched the IPO on October 16, 2024, during a ceremony at the Sheraton Addis, where 100 million shares in the state-owned giant were put up for sale at a value of 300 birr per share.
Investors can acquire a minimum of 33 shares in the company for 9,900 birr or a maximum of 3,333 shares for close to one million birr. The IPO is taking place solely through Ethio Telecom’s Telebirr application and is scheduled to last through January 3, 2025.
Potential investors can apply for equity through Telebirr and are required to submit payment for their bid within three days of the offer. The payment will also include a 1.5 percent service fee and the applicable value-added tax (VAT), according to a statement from the operator.
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Only Ethiopian citizens are permitted to purchase equity in Ethio Telecom, and the company reserves the right to select which prospective investors will be allocated equity following their application and payment through Telebirr.
