Dashen Bank Opens Shares to Public as ESX Listing Nears.

Dashen Bank has opened its remaining shares to the public following the completion of its exclusive rights offer to existing shareholders, marking a significant step toward its anticipated debut on the Ethiopian Securities Exchange (ESX).

In a notice approved by the Ethiopian Capital Market Authority (ECMA), the bank invited eligible investors to purchase newly issued shares by visiting its head office and opening trading accounts through licensed stock brokers or investment banks. The offer remains open until March 16, 2026.

The public sale follows a 6.4 billion birr capital raise, during which 2.21 million new shares were offered at 2,900 birr each to existing shareholders between December 25, 2025, and February 11, 2026. ECMA approved the registration of 16.54 million ordinary shares in total, comprising 14.34 million existing shares and the newly issued shares.

Shares not subscribed during the rights offer period are now available to qualified institutional investors, high-net-worth individuals, and retail investors, in accordance with the approved prospectus. Proceeds from the capital increase will strengthen regulatory capital, accelerate digital transformation initiatives, including expansion of the bank’s SuperApp, and support growth across corporate, retail, MSME, and interest-free banking segments.

Upon completion of the offer, all ordinary shares are scheduled to be listed on the ESX main board on February 23, 2026. Dashen Bank is among six commercial banks that have secured approval in principle to list, positioning it among the most advanced institutions preparing for market entry alongside Bank of Abyssinia.

The development reflects accelerating momentum in Ethiopia’s evolving capital market landscape as banks move to diversify funding sources and enhance transparency through public listing.