In a groundbreaking development for Algeria’s nascent startup ecosystem, Moustachir SPA has received regulatory approval to list on the Algerian Stock Exchange, making it the first startup to finance its growth through the local capital markets. The approval, granted by the Commission for the Regulation and Control of Stock Exchange Operations (COSOB), paves the way for Moustachir to offer 125,000 new shares during a public subscription period from December 1 to December 31, 2024.

The shares will be priced at 760 Algerian dinars (DA) each, equating to approximately $5.70 per share, with the offering expected to raise 94.44 million DA ($707,000). This issuance represents 25% of the company’s total capital, which is comprised of 500,000 shares with a nominal value of 40 DA each.

The Listing Process and Target Audience

The shares will be listed in the growth compartment of the equity securities market, a segment tailored to smaller and growing companies. COSOB emphasized the dematerialized nature of the securities, which will be registered electronically with authorized custodian account holders.

The offering is targeted at Algerian resident investors, including individuals, employees, consultants of Moustachir SPA, and public or private entities incorporated under Algerian law.

Invest Market SPA, the broker and sponsor responsible for managing the listing process, expressed gratitude to COSOB for its oversight and support in fostering a more dynamic financial ecosystem.

Founded in 2022 and recognized with the startup label by Algeria’s Ministry of Knowledge Economy, Moustachir SPA operates as a consulting firm with a strong digital focus. Its flagship offering is an online consulting platform that connects experts in various fields with businesses and individuals seeking tailored advice.

In addition to the e-consulting platform, the company provides a range of other services, including:

• IDARATI: A platform for business management solutions.
• Moustachir Com: A communications advisory service.
• Assistance for Foreign Company Setups: Support for international businesses entering the Algerian market.
• Moustachir Academy: Educational programs aimed at fostering skills and knowledge in entrepreneurship and business.
• Coworking Spaces: Shared workspaces tailored to startups and freelancers.
• Profitability Solutions: Customized strategies to enhance business performance.
• Open Innovation: Programs that encourage collaborative innovation between companies and external experts.

To ensure transparency, the information notice and prospectus will be made available to potential investors at Moustachir’s headquarters, through its stock exchange promoter, and via the financial intermediaries managing the placement. Digital copies will also be accessible on the websites of COSOB, the Algiers Stock Exchange (SGBV), and Moustachir.

This listing marks a significant milestone for Algeria’s capital markets, signaling an effort to diversify funding sources for startups beyond traditional venture capital and bank loans. By listing on the stock exchange, Moustachir sets a precedent for other startups looking to tap into public financing.

COSOB’s decision to approve Moustachir’s listing highlights the regulator’s commitment to fostering innovation and supporting the growth of the Algerian startup ecosystem. If successful, the offering could encourage more startups to consider the public markets as a viable financing route, contributing to the overall dynamism of Algeria’s financial and entrepreneurial landscape.