ESX and Saudi money in Africa17 Oct 2024 07:56
Https://www.bloomberg.com/news/articles/2024-10-16/ethiopia-to-raise-255-million-in-african-nation-s-maiden-ipo
https://addisfortune.news/ethio-telecoms-ipo-heralds-a-new-era-in-ethiopias-capital-market/
The Ethio telecom IPO, alongside the establishment of the Ethiopian Securities Exchange (ESX), forms an integral part of the government's strategy to deepen financial markets, promote private investment, and create wealth for its citizens.
Contrary to recent media coverage, the primary offering of Ethio telecom's shares was not expected to occur on the Exchange's trading platform. Rather, once investors fully subscribe to Ethio telecom's publicly offered shares, they will be listed on the Exchange for secondary market trading. This approach aligns with global best practices and ensures investors have a regulated and efficient platform for buying and selling securities after the IPO.
Hence, investors participating in offerings like Ethio telecom's IPO will have securities trading accounts within the central securities depository established under the National Bank of Ethiopia (NBE). They will be able to subscribe to upcoming IPOs or engage in secondary market trading through preferred market intermediaries, such as securities brokers or investment banks.
Ethiopians across the country, as well as foreign investors, will be able to approach exchange trading members to buy or sell securities.
https://www.zawya.com/en/markets/equities/saudis-manara-in-advanced-talks-to-buy-stake-in-first-quantums-zambian-mines-gnne8vck
Saudi Arabia's Manara Minerals is closing in on a deal to buy a minority stake in Canadian miner First Quantum Minerals' Zambian copper and nickel assets, three people familiar with the details told Reuters.
Manara, a joint venture between Saudi Arabian mining company Ma'aden and its $925 billion Public Investment Fund, is in advanced talks to acquire between 15% and 20% equity in the Zambian assets, the sources said. The stake could be worth between $1.5 billion and $2 billion, one of the sources added.
https://www.msn.com/en-us/money/markets/saudi-group-seeking-deal-to-buy-stake-in-first-quantum-s-zambian-mines-reuters/ar-AA1snlvD?ocid=finance-verthp-feeds
https://www.chemanalyst.com/NewsAndDeals/NewsDetails/saudi-arabia-zinc-project-positioned-for-sustainable-long-term-growth-30810
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