The first trading day of the stock company AOM Invest, whose IPO was approved in late October 2018 by the Commission for Organization and Supervision of Stock Exchange Operations (Cosob), will take place during the first fortnight of December, according to the Director General of the Stock Exchange of Algiers.
According to Yazid Benmouhoub, met last Wednesday on the sidelines of the Salon Sibal expo, organized at the International Convention Center (CIC), the official date will be announced in the next few days, which will formalize the IPO – the first of its kind – this public-private joint-stock company, active in the field of thermal tourism.
A first operation that already opens new prospects in the field of market capitalization of small and medium-sized companies, notes the director general of the Stock Exchange. He emphasizes that this operation "counts a lot for us because we hope that it will be the example to follow for other companies in the same sector or other sectors of activity."
The stock market can really help these SMEs to raise funds, to have a better capitalization and a better visibility, especially for the companies which are destined for the export on the international market. "The general manager of the Stock Exchange says many companies are getting closer to its services to inquire about the procedures to be followed and the benefits of the IPO.
"What we notice, especially since about a semester, is that we receive a lot of SMEs who come to inquire. They are more on the lookout for funding. I think that the extension missions that we have started since 2013 across the national territory are starting to bear fruit.
It must also be said that many SMEs are facing a real problem since the decline in government revenue, liquidity having decreased significantly between 2014 and 2016, or nearly 74%, and as these companies are not sufficiently capitalized, they can not find access to credit from banks.
We, therefore, invite them to get closer to the stock market and increase their capital in order to have a good capitalization, which will open the doors of banks. "On another level, Yazid Benmouhoub insists on the modernization of the Stock Exchange. "We continue our development internally and the stock market will be, in 2019, the first fully digitized company.
We are going to put the on-line rating system and the information system into service, so intermediaries will be able to connect and trade directly on a platform via the internet, "notes the managing director of the Stock Exchange.
Concerning AOM Invest Spa, the Cosob had recently pointed out that "the securities that will be introduced under the ordinary procedure, Spa, representing more than 10% of the shares of its share capital, following a prior placement with three institutional investors" .
The capital of AOM Invest amounts to 115.9 million DA, consisting of 1,159,300 shares, with a par value of 100 DA / share. The number of shares held by institutional investors is 520,000 shares.
As for the price fixed at the IPO, it is 297 DA / share. Cosob also indicates that the type of share of this transaction is ordinary, whereas the securities are recorded in an identifiable bearer or registered account.
The Cosob had informed that the securities of the company will be admitted to listing on the SME market of the Algiers Stock Exchange after completion of formalities with the Management Company of the stock exchange (SGBV) and Algeria Clearing, Central Depository of Securities
Article IPO of the SME AOM Invest: The first trading session in December first appeared on El Watan .