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Ethio telecom Launches Historic IPO for 10pc Stakes

Oct 16 , 2024

The state-owned Ethio telecom has launched the first Initial Public Offering (IPO) in half century, floating 10pc of its shares to the public. Attended by Prime Minister Abiy Ahmed (PhD), at the Sheraton, Taitu Street, today, the oldest telecom company in Africa has launched what its officials have lauded as an "inclusive wealth" initiative.

Ethio telecom was first established 130 years ago under the reign of Emperor Menelik; today it has 119 billion Br in equity and a total asset reaching 215 billion Br.

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