AYRADE Becomes First Technology Company Listed on Algiers Stock Exchange
Algeria’s stock exchange welcomed AYRADE, an information technology, software engineering and digital services company, on Wednesday, making it the first technology firm to join the country’s equity market.
The listing ceremony was attended by Amel Selloum, Director-General of the Algiers Stock Exchange, and Youcef Bouzenada, President of the Commission for the Organisation and Supervision of Stock Market Operations.
AYRADE offered 1.25 million shares for subscription, representing 20 percent of its capital, with a total value of 1.383 billion dinars. Investor demand reached 1,729,993 shares, giving the operation a coverage rate of 138.4 percent, or 38.4 percent above the amount available. Subscribers came from 53 provinces, reflecting broad national interest in the offering.
Selloum said the listing marked an important step in the development of Algeria’s financial market. She noted that the arrival of the first company operating in modern technologies supports efforts to diversify business financing, mobilise savings and direct more capital towards productive investment.
Bouzenada said AYRADE’s admission would increase the representation of technology companies on the market, strengthen its appeal to investors and help stimulate trading. He added that the exchange expects to welcome another subsidiary linked to the higher education and scientific research sector in September, following the listing of Kripsi Expertises on Tuesday.
AYRADE Chief Executive Mohamed Lamine Belbachir said the company, founded in 2009, exceeded its subscription target without extending the offer period. He described the result as a sign of investor confidence and strong support from financial institutions.
The listing raises the number of companies traded on the Algiers Stock Exchange to ten, including Alliance Assurances, Biopharm, Hotel El Aurassi, Saidal, Crédit Populaire d’Algérie, Banque de Développement Local, AOM Invest, Moustachir, Kripsi Expertises and AYRADE.
The successful offering also signals growing public interest in financing innovative Algerian businesses through capital markets and investment channels.
