Algerian Startup Moustachir Lists on Stock Exchange – A Success Story
Alger – The official listing of start-up “Moustachir” on the Algiers Stock Exchange on Tuesday marked a significant milestone for the Algerian financial market, representing the first time a start-up has been admitted to trading. The move was hailed as a potential catalyst for financing minor and medium-sized enterprises (SMEs) and start-ups, offering a latest mechanism for innovation and sustainable development.
The announcement was made at the headquarters of the Algiers Stock Exchange, with key figures from the Algerian government and financial sector in attendance, including Minister of Finance, Laaziz Faid, Minister of the Economy of Knowledge, Start-ups and Micro-enterprises, Noureddine Ouadah, Director General of the Society for the Management of the Stock Exchange (SGBV), Yazid Benmouhoub, and President of the Commission for the Organization and Supervision of Stock Exchange Operations (COSOB), Youcef Bouznada, alongside Kheireddine Boulefa, President-Director General of “Moustachir.”
Minister Faid described the listing as “an important and historic step” for the Algerian stock market, emphasizing its potential to unlock funding for SMEs and start-ups. He similarly highlighted the strong support for the initiative from President Abdelmadjid Tebboune, who has demonstrated “great interest” in the Economy of Knowledge and start-ups, and expressed “deep faith in the capabilities of our young people, bearers of innovative and creative projects.”
The initial public offering saw strong demand, exceeding the supply by nearly 120 percent. A total of 149,615 shares were requested, compared to the 125,000 shares offered – representing 25 percent of the company’s capital. The operation raised 94.625 million Algerian dinars (DA).
The shares were acquired by 306 subscribers, comprising 257 individuals (62,500 shares), 29 officials and advisors to “Moustachir” (12,500 shares), and 20 Algerian legal entities (50,000 shares). The majority of subscriptions originated from Algiers (39,453 shares, 31.56 percent of the total), followed by Bejaia (24,725 shares, 19.78 percent) and Sétif (14,204 shares, 11.36 percent), representing a broad geographic distribution of investor interest across 45 Algerian provinces.
The successful listing of “Moustachir” is expected to encourage other Algerian start-ups to consider accessing the stock market as a means of raising capital and driving growth. The move signals a broader effort to develop Algeria’s financial infrastructure and foster a more dynamic entrepreneurial ecosystem.