Algiers – The Commission for the Organization and Supervision of Stock Exchange Operations (COSOB) has granted official accreditation to the National Agency for the Valorization of Research Results and Technological Development (ANVREDET) as an authorized sponsor on the Algiers Stock Exchange. This move aims to bolster funding opportunities for small and medium-sized enterprises (SMEs) and startups.
According to a COSOB statement released Wednesday, this accreditation empowers ANVREDET to assist companies seeking listing on the exchange, particularly within the growth segment dedicated to SMEs and startups. ANVREDET will provide support from the preparatory phase, aiding in structuring the listing project, preparing the application file and prospectus, and continuing support for five years post-listing. This includes ensuring compliance with financial disclosure obligations and adherence to market regulations.
The commission emphasized that the accreditation of this public industrial and commercial entity represents “an important step in strengthening the connection between scientific research, innovation, and the financial market.” COSOB believes it will contribute to expanding funding prospects for innovative startups and fostering a knowledge-based economy.
With this decision, ANVREDET becomes the fifth accredited sponsor with COSOB, joining RMG Consulting, Grant Thornton Algeria, Finabi Consulting, and Invest Market.
Established in 1998, ANVREDET’s primary missions include valuing scientific research results, transferring technology to the national economic fabric, supporting innovative projects and startups, and strengthening links between researchers and economic institutions.
The statement further highlighted that the growth segment of the Algiers Stock Exchange was created as part of the 2023 financial market reform, under regulation number 23-04. COSOB has simplified listing conditions and adapted them to the specific characteristics of this category of enterprises, notably by setting a minimum capital raising threshold of 10 million Algerian dinars, opening the door for a greater number of companies to access the financial market. This initiative signals a commitment to fostering a dynamic ecosystem for emerging businesses in Algeria.
