The Ethiopian Capital Market Authority (ECMA) issued a public notice last week, requiring all publicly held companies with more than 50 shareholders to submit detailed information about their existing shares. This order, which is in line with last year’s Public Offer & Trading of Securities Directive, aims to facilitate the integration of existing securities into the regulated capital market system. The deadline for submission is March 10, 2025. Required information includes the total number of shares, a list of all shareholders with their contact information and shareholdings, the value of the existing securities, and the start and end dates of the offer. Companies must also submit copies of the offer documents and details of any related advertisements. Submissions should include hard copies delivered to the Authority’s head office and soft copies emailed to specified addresses. Failure to submit data by the deadline will result in any share issuance being considered as if it occurred after November 13, 2024. All existing securities must be registered within one year starting November 13, 2024. Companies planning new offers must register their securities before any offer or sale, and failure to comply may result in penalties.
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