What are the listing requirements on the Ethiopian Securities Exchange?

Registering securities with ECMA lets a company offer shares to the public; listing on the ESX is the further step of getting those shares admitted to trade on the exchange. The conditions are set out in the ESX Rulebook (2024).

The Rulebook sets initial listing requirements a company must meet to be admitted, then continuing obligations once it is listed — above all ongoing, timely disclosure of information that could affect its share price, plus rules on related-party transactions. It also covers when trading may be suspended and how a company is delisted.

ESX offers different routes onto the market: a Main board for larger, established issuers and a Growth board with lighter requirements for smaller, growing companies.