The Ethiopian Capital Market Authority (ECMA) has registered securities for Berhan Bank S.C. and Cooperative Bank of Oromia S.C., according to separate public notices issued by the regulator. The approvals cover both shares already held by shareholders and new shares planned for offer to existing and new investors.
For Berhan Bank, the ECMA approved the registration of 6,328,419 shares already held by shareholders and 3,671,581 new shares approved to be offered to existing and new shareholders. The approval was dated September 30, 2026.
For Cooperative Bank of Oromia, the authority registered 128,000,000 shares already held by shareholders and 82,000,000 new shares approved to be offered to existing shareholders. The approval was also dated September 30, 2026.
The notices were published under Article 75 of the Capital Market Proclamation No. 1248/2021 and Articles 4 and 29 of the Public Offer and Trading of Securities Directive No. 1030/2024. These provisions require securities offered to the public to be registered with the ECMA.
Regulatory approval without endorsement
The ECMA explicitly stated that the notices are published solely to inform the public of the registration of securities. The regulator clarified that the publication should not be construed as an endorsement of the offer, an offer to sell, or a solicitation of an offer to buy any securities.
The registration of shares for two Ethiopian banks on the same date reflects the growing formalization of securities offerings under the country's capital market framework. Cooperative Bank of Oromia's registration covers a significantly larger volume of shares than Berhan Bank's, with 128 million existing shares compared to roughly 6.3 million for Berhan Bank.
The notices do not specify the offer price, timing, or other terms of the share offers. Investors and existing shareholders will need to refer to the banks' offer documents for details on how to participate in any share sale.
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