On January 20, 2025, Banque de Développement Local (BDL) will partially open its capital through a public offering on the Algiers Stock Exchange, marking a pivotal step in modernizing Algeria's banking industry.
The initiative aims to strengthen BDL's capital base while attracting diverse national investors. For one month, from January 20 to February 20, 2025, shares will be available at 1,400 DA each, targeting a total of 61.88 billion dinars. The public offering comprises 44.2 million shares allocated as follows:
40% for individual investors.
30% for companies and institutions.
30% for professional investors.
This allocation strategy is designed to encourage widespread participation and diversify funding sources.
The initiative will boost BDL's share capital by 30%, increasing it from 103.2 billion to 147.4 billion dinars. Strategically, it aligns with efforts to modernize the banking sector, making it more attractive and competitive on an international scale. Authorities also aim to foster greater involvement of domestic investors in Algeria's economic development.
Institutional Support:
The operation involves multiple regulatory and institutional players:
Conseil des Participations de l'État (CPE): Validated the partial capital opening.
Cosob: Approved the information memorandum and oversees the operation.
Market Intermediaries: Six public banks and three private companies will facilitate share sales.
A communication campaign will also be launched to raise awareness and encourage participation.
This partial capital opening marks a significant advancement for the Algiers Stock Exchange and Algeria’s banking sector, paving the way for future market entries and reinforcing investor confidence.
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