(Bloomberg) -- Algeria, which in March saw its first public initial offering in eight years, expects at least three others in 2025 as it looks to grow its small and illiquid stock exchange and diversify the economy.
One of the firms will be from the pharmaceutical sector, the exchange’s director-general, Yazid Benmouhoub, said in an interview with the Asharq TV channel, without elaborating.
Algeria’s second IPO for 2024, the previously announced listing of Banque de Développement Local, remains on track before the end of 2024 and will increase the size of the exchange by about $500 million to some $4.5 billion, Benmouhoub said.
The Algiers Stock Exchange saw the biggest listing in its three-decade history earlier this year, with the IPO of Credit Populaire d’Algerie. The state-controlled bank became only the fifth firm to float shares locally in the North African nation.
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