The local development bank aims to raise $ 456 million from a proposal on the Algeria Stock Exchange

The Algerian Local Development Bank aims to raise $ 61 billion Dinars ($ 456 million) from its inclusion in the local stock exchange, according to Committee President Youssef Bouzadada, which indicates that the bank will offer 30% of its shares for a price of 1400 dinars per share in the annual year. Earlier this year, the Algeria Stock Exchange saw the first initial public offering in eight years, and the largest insertion in the history of its three decade, through the first public offer of the ‘Algerian Popular Loard’ bank. This bank owned by the Algerian government has become the fifth company offering its shares locally in the North Africa land. The general manager of the Algerian Stock Exchange, Yazid Ben Mohoub, said in a previous interview with “Al -Sharq” that the stock exchange is looking forward to an extra recovery with the expected listing of a number of small and emerging businesses during 2025. Youssef expected Bouzada in the interview on the market value of the market value of the market value of the market value of the market from 40% to 520 billion. billion dollars) up to 700 billion dinars ($ 5.1 billion) at the end of the bank’s insertion process, adding that the offer will improve its ability to expand the financing of institutions in the country. The bank subscription process, which deals with financing medium and small institutions, starts on January 20 in the first place, and will last a month, and will direct its shares with 40% for natural persons, 30% for moral persons and 30% for institutional investors. The Algeria Stock Exchange wants to maintain the momentum of the inclusion of companies during the new year and count on the inclusion of the ‘Gizi’ telecommunications company and a private company working in the main market for the stock market next year, with expectations to include a larger number of small and medium -sized companies in the growth market.