Algerian Radio
Ayrade, a company specializing in information technology, software engineering, and digital services development, was listed Wednesday on the Algiers Stock Exchange, becoming the first firm in the technology sector to join the market after share demand exceeded the initial offer by 38.4%.
The listing ceremony took place in the presence of the General Manager of the Algiers Stock Exchange Management Company (SGBV), Ms. Amel Selmoune, and the President of the Commission for the Organization and Monitoring of Stock Exchange Operations (COSOB), Mr. Youcef Bouznada.
The company offered 1,250,000 shares for subscription, representing 20% of its capital, for a total value of 1,383,994,400 DZD. The number of shares requested reached 1,729,993, marking a subscription rate of 138.4%. The operation involved investors from 53 wilayas.
On this occasion, Ms. Selmoune emphasized that the listing of Ayrade constitutes a major milestone in the development of the Algerian financial market as the first modern technology firm to enter the exchange. She noted that it reflects efforts to diversify economic funding sources and strengthen the market's role in mobilizing savings for productive investment.
For his part, Mr. Bouznada explained that Ayrade’s entry will expand the representation of the technology sector in the financial market, enhancing its attractiveness to investors while boosting transaction dynamism and broadening the investment base.
He added that the Algiers Stock Exchange is set to welcome a second economic subsidiary from the Higher Education and Scientific Research sector this September, following the listing of CRAPC Expertise on Tuesday.
The CEO of Ayrade, Mr. Mohamed Lamine Belbachir, stated that the company, founded in 2009, successfully exceeded its subscription target without needing to extend the offer period. He described this result as a clear indicator of investor confidence and support from financial institutions.
With this new addition, the number of companies listed on the equity market of the Algiers Stock Exchange now stands at ten: Alliance Assurances, Biopharm, EHG El Aurassi, Saidal, Crédit Populaire d'Algérie (CPA), Banque de Développement Local (BDL), AOM Invest, Moustachir, CRAPC Expertise, and Ayrade.
