• Regulator expects two to three IPOs, including Ayrade and INSAG Education Group
• New entrants would join a market with only eight listed companies
• Market capitalization rose 43 % in the first half of 2025

The Algiers Stock Exchange is expected to welcome up to three new companies in 2026, including an information technology services firm and a major private higher education provider, the market regulator announced on Sunday, December 7. “The Algiers Stock Exchange should record two or three listings next year, including Ayrade, an information technology services company seeking to finance the construction of data centers,” said Youcef Bouzenada, president of the Commission for the Organization and Supervision of Stock Market Operations (Cosob), as quoted by Bloomberg.

“Other possibilities are INSAG Education Group and a pharmaceutical laboratory,” he added without providing further details. Ayrade, which operates mainly in data hosting, cloud computing, cybersecurity, and the integration of customer relationship management (CRM) software and enterprise management systems, submitted an application for an IPO in March 2025.

INSAG Education Group, which runs several specialized institutes in management, marketing, finance, and technology, announced in October its intention to join the stock market as part of a development strategy aimed at strengthening growth and improving financial transparency.

Algeria, whose hydrocarbon sector accounts for 14 % of GDP, 86 % of exports, and 47 % of revenue according to the World Bank, is seeking to diversify an economy in which the Algiers Stock Exchange still plays a marginal financing role. The exchange, created in 1997, currently counts only eight listed companies: Alliance Assurances, Biopharm, El Aurassi, Saidal, Crédit populaire d’Algérie, AOM Invest SPA, Banque de développement local, and Moustachir.

Its market capitalization reached 745.4 billion dinars (about $5.73 billion) at the end of June 2025, compared with about 520 billion dinars at the beginning of January, an increase of 43 % over the first half of the year, according to data published by Cosob. The increase is partly due to the arrival of two companies on the market: Banque de développement local (BDL) and the start-up Moustachir, which specializes in consulting.

Walid Kéfi