Ethiopia Opens Stock Exchange With One Listing and No Brokers
- One lender, Wegagen Bank, listed on the exchange on Friday
- The government didn’t disclose the fate of Ethio Telecom’s IPO
People look at a stock chart during the launch of Ethiopian Securities Exchange in Addis Ababa, Ethiopia, on Jan. 10.
Photographer: Amanuel Sileshi/AFP/Getty ImagesThis article is for subscribers only.
Ethiopia opened its stock exchange — part of a plan to lure investors to an economy recovering from a civil war — without any brokers and no initial public offering debuts.
The government listed Wegagen Bank on the exchange on Friday but didn’t make any mention of Ethio Telecom’s 30 billion birr ($238 million) initial public offering.