Batteries ASSAD Algérie Seeks 1 Billion Dinar Expansion Capital

Tunisian industrial group ASSAD is moving forward with plans to list its Algerian battery subsidiary, Batteries ASSAD Algérie (BAA), on the Algiers stock exchange. The proposed listing, reviewed by the Algerian market authority's one-stop committee, targets a fund-raising objective of 1 billion Algerian dinars. This move is intended to provide a concrete capital-market route for ASSAD's operations within Algeria.

The capital raised from the listing is earmarked for significant industrial expansion. Batteries ASSAD Algérie currently possesses an annual production capacity of 400,000 batteries, with the expansion plan aiming to increase this to 1 million units. This investment is also expected to support the establishment of new production lines and finance a recycling plant, contributing to the development of the industrial sector.

The strategic decision to introduce Batteries ASSAD Algérie on the Algiers exchange underscores a commitment to enhancing industrial capabilities and fostering economic growth within Algeria. The initiative not only seeks to bolster local production but also facilitates capital market development through a significant local listing.