Gadaa Bank Launches 1-Million Share Issuance Following ECMA Approval

Gadaa Bank S.C. has officially launched a public offering of one million ordinary shares following regulatory approval from the Ethiopian Capital Market Authority. The bank, which recorded a pre-tax profit exceeding 1 billion birr in the last fiscal year, is seeking to raise capital to support its digital banking infrastructure.

The shares are priced at 1,050 birr per unit. The bank stated that this pricing strategy is intended to broaden its retail investor base and increase equity ownership.

To manage the transaction, Gadaa Bank has partnered with a syndicate of licensed brokerage firms. The participating firms include: