Following the conclusion of its 2,206,906 new shares Rights Offer period on February 11, Dashen Bank has entered the final phase of its historic transition to the public market. With the Rights Offer window now closed for existing shareholders, the bank is moving to offer any unsubscribed shares to the broader public.
The capital raise, which launched in late December 2025, was initially structured to give the bank’s 4,900+ existing shareholders the first right to maintain their stakes. However, as outlined in the bank’s official prospectus, any “surplus” or unsubscribed shares are now being made available to qualified institutional investors and the general public.
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This transition is why recent social media communications from the bank have shifted focus, urging potential new investors to visit licensed securities dealers and investment banks.
Dashen Bank has already secured “Approval in Principle” from the Ethiopian Securities Exchange (ESX) to list on its Main Board. According to the target timetable in the prospectus, the formal listing is scheduled for Monday, February 23, 2026.
According to the timeline stipulated in the prospectus, shares are being dematerialized (converted to digital format) and credited to the Central Securities Depository (CSD).
And subject to future changes, Dashen bank’s stock is expected to list on ESX main market on February 23, 2026. Once listed, the shares will be traded electronically, ending the era of over-the-counter (OTC) paper transactions for the bank.