Information technology and software engineering firm Ayrade has officially made its debut on the Algiers Stock Exchange. The move marks a historic milestone as the company becomes the very first tech entity to join the Algerian stock market. The listing follows a highly successful public offering, with investor demand outstripping the initial share volume by 38.4 percent.
The listing ceremony took place on Wednesday, attended by Amel Selmoune, CEO of the Stock Exchange Management Company (SGBV), and Youcef Bouznada, Chairman of the Stock Exchange Operations Organizing and Monitoring Commission (COSOB).
As part of the float, Ayrade offered 1.25 million shares—representing 20 percent of its total equity—for an aggregate valuation of 1.38 billion dinars. Total demand reached 1,729,993 shares, driving the final subscription rate to 138.4 percent. The fundraising round saw widespread domestic interest, drawing buyers from 53 provinces across the country.
Speaking at the event, Amel Selmoune hailed the move as a major breakthrough for the Algerian financial market. She noted that Ayrade’s listing marks a fresh chapter in diversifying the corporate sectors represented on the trading floor. Furthermore, she emphasized that it reflects ongoing initiatives to broaden funding channels for the national economy while boosting the stock exchange’s role in mobilizing savings for productive capital.
For his part, Youcef Bouznada stated that this market entry will strengthen the technology sector’s footprint on the financial scene, enhance its appeal to market players, and inject fresh momentum into daily trading volumes.
The COSOB Chairman also revealed that the Algiers Stock Exchange will welcome a second economic subsidiary tied to the Higher Education and Scientific Research sector this coming September. This upcoming arrival follows the successful market entry of CRAPC Expertise on Tuesday.
Expressing his satisfaction with the outcome, Ayrade CEO Mohamed Lamine Belbachir noted that the company, established in 2009, hit and surpassed its subscription targets well within the original timeframe without requiring an extension. He viewed the achievement as a strong vote of confidence from investors and backing financial institutions alike.
With the addition of Ayrade, the total number of listed companies on the Algiers Stock Exchange main board rises to ten. The current lineup includes Alliance Assurances, Biopharm, EHG El Aurassi, Saidal, Credit Populaire d’Algerie (CPA), Banque de Developpement Local (BDL), the SME AOM Invest, the startup Moustachir, CRAPC Expertise, and now, Ayrade.