36 Days
Source:
AL24 News
Algeria Stock Exchange lists "Irad" as the first technology company on the stock market
Irad, a company specializing in information technology and software engineering, was listed on the Algiers Stock Exchange to become the first company from the tech sector to be publicly traded. This was driven by a demand for its shares that exceeded supply by 38.4%. The company issued 1.25 million shares representing 20% of its capital, with a total value of nearly 1.38 billion dinars. The offering was oversubscribed by 138.4%, with investors from all regions of Algeria participating. This listing is an important step towards diversifying the economy's funding sources and strengthening the financial market in Algeria. The number of listed companies has now increased to 10.
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