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Algiers Stock Exchange launches its first participative bond trading

On Thursday, October 8, the Algiers Stock Exchange officially began trading participative bonds, a Sharia-compliant financing instrument issued by the firm "Rolaxi" for professional investors. The operation resulted in the subscription of 171,000 bonds out of 400,000 offered, at a nominal price of 1,000 DA each. The bonds have a seven-year maturity period, with interest beginning on January 1, 2025. Youcef Bouzenada, head of the COSOB, stated that this marks a milestone in developing the financial market's role in corporate financing. Meanwhile, Amel Salmon, CEO of the Algiers Stock Exchange, reported that the exchange now includes 10 listed companies, half public and half private, with a total market capitalization exceeding 685 billion dinars.