In a significant milestone for Algeria's financial market, Moustachir, an electronic consulting platform, has officially become the first startup to secure approval for listing on the Algiers Stock Exchange. This historic step was confirmed by the Commission for the Organization and Supervision of Stock Exchange Operations (COSOB), making Moustachir a trailblazer in bridging startups with public investment opportunities.
The platform connects entrepreneurs and businesses with a network of Algerian and international consultants across diverse fields, including legal advisory, export and import, artificial intelligence, and more. By opening its capital to the public, Moustachir seeks to fuel its ambitious expansion plans in Algeria and tap into the wider Arab markets.
The Initial Public Offering (IPO) offers shares at 760 DZD each, with 125,000 shares up for grabs, representing a 25% increase in the company’s capital. Individual investors can subscribe with a minimum of 10 shares, while institutional investors require a minimum of 1,000 shares.
A Milestone Amid Growing Stock Market Activity
This move comes amidst an unprecedented period of dynamism for the Algiers Stock Exchange, as highlighted by COSOB chairman Youssef Bouzenada. According to Bouzenada, recent tax breaks and financial incentives have played a pivotal role in encouraging companies to go public.
Currently, six companies are listed on the Algiers Stock Exchange, including Saidal, Aurassi, Alliance Assurances, Biopharm, AOM Invest, and CPA Bank. Several small and medium-sized enterprises (SMEs) in the industrial sector are now undergoing evaluation for potential stock listings.
While the much-anticipated listing of the Banque de Développement Locale (BDL) is still pending, Moustachir’s approval signals a progressive shift toward diversifying Algeria's financial landscape. It also sets a precedent for other startups to explore public funding opportunities, driving further innovation and economic growth.
Collaborating for Success
To facilitate its IPO process, Moustachir is collaborating with Invest Market SPA, a COSOB-approved brokerage firm, which will provide the expertise needed to ensure a smooth transition into the stock market.
Moustachir’s IPO exemplifies the growing potential of startups in Algeria's economy and represents a significant leap toward achieving the platform's vision of becoming the leading consultation hub in Algeria and the Arab world.
This development reflects the Algiers Stock Exchange’s commitment to fostering a robust investment ecosystem, paving the way for more dynamic and diversified economic opportunities.
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