APS - 07 July 2020
ALGIERS- The Organizing and Supervisory Commission for Stock Market Operations (COSOB) received in 2020 two new requests of listing in the Algiers Stock Exchange, its president Abdelhakim Berrah told APS.
Two SMEs (small and medium-sized enterprises) have officially submitted visa applications from COSOB (regulatory authority for financial market) in order to make their debut in Algiers stock exchange, which had opened a compartment dedicated exclusively to this type of business in 2012, according to Berrah.
The first request concerns a company activating in the agro-food sector, which aspires to raise funds worth one billion dinars.
Submitted by an SME active in the tourism sector, the second request concerns an operation to issue equity securities for a total amount of 10 billion dinars, over a period of three years in one or more installments, as needed.
In 2019, COSOB launched an investigation with the aim of identifying the SMEs eligible for the Stock Exchange. It identified a dozen companies, "many of which have officially expressed their intention to begin their IPO process," said Berrah.
As the main market of the Algiers Stock Exchange, it expected be fueled by new listings among "successful companies which would contribute to the depth and liquidity of our market".
In fact, three companies are expected to finalize their IPO processes, already launched in 2019 and 2018. These companies operate in the food industry, public works and the manufacturing of industrial equipment.