A 50 million birr equity investment is made by Siinqee Bank in the Ethiopian Securities Exchange (ESX).
Source:#Capital
According to the soon-to-be secondary market platform, Siinqee Bank's investment in the ESX will move the launch date of the exchange closer to reality as it strives to operationalize by the fourth quarter of 2024.
It went on to note that this investment is a testament of the Bank's long-standing commitment to societal financial empowerment, which has lasted for more than 29 years and contributed in Ethiopia's economic growth. The Bank was recently upgraded from microfinance.
It is anticipated that the 50 million equity investment from Siinqee will represent 5 percent of the shares in ESX's paid capital.
In addition to Ethiopian Investment Holdings (EIH) and its 4 subsidiaries who provided initial investment, Siinqee Bank will also be joined other investors who will be signing as shareholders before ESX winds up its capital raise.
Zemen Bank was the first to arrive at a decision to become a private investor with a share in the stock exchange.
It is anticipated that ESX will be founded with one billion birr in funding.
#investment #ESx #Ethiopia #capitalmarkets #stocks #stockmarket
Source:#Capital
According to the soon-to-be secondary market platform, Siinqee Bank's investment in the ESX will move the launch date of the exchange closer to reality as it strives to operationalize by the fourth quarter of 2024.
It went on to note that this investment is a testament of the Bank's long-standing commitment to societal financial empowerment, which has lasted for more than 29 years and contributed in Ethiopia's economic growth. The Bank was recently upgraded from microfinance.
It is anticipated that the 50 million equity investment from Siinqee will represent 5 percent of the shares in ESX's paid capital.
In addition to Ethiopian Investment Holdings (EIH) and its 4 subsidiaries who provided initial investment, Siinqee Bank will also be joined other investors who will be signing as shareholders before ESX winds up its capital raise.
Zemen Bank was the first to arrive at a decision to become a private investor with a share in the stock exchange.
It is anticipated that ESX will be founded with one billion birr in funding.
#investment #ESx #Ethiopia #capitalmarkets #stocks #stockmarket