Algeria’s Startup Diar Dzair Plans To Sell Shares on Local Bourse by End of 2025

The Algerian e-commerce startup, Diar Dzair, is planning to sell part of its shares on the Algiers Stock Exchange before the end of this year to finance an expansion plan, according to Saighi Abdelrraouf, the company's deputy general manager.

According to a statement issued last month, The Securities and Investments Organization and Monitoring Commission is reviewing the company's listing request, but it did not provide any details about the listing or its timing.

Earlier in 2025, the stock exchange witnessed the listing of the first startup, Moustachir, amid the need for such companies to secure funding for expansion, given the difficulties in obtaining bank loans.

"(The listing) will be before the end of the year... (through) a share offering and a subscription process," Abdelrraouf told Zawya Arabic, noting that the number of shares to be offered has not yet been determined.

Diar Dzair, which was founded in 2020, operates in e-commerce via Islamic financing means in Algeria and has plans to expand into several countries, including Tunisia and Senegal, according to the company official. The company sells consumer products such as home appliances.

The company's turnover surged in 2024 to $18.5 million, compared to $3.9 million in 2023, according to Abdelrraouf.

Start-up landscape in Algeria

Moustachir was the first startup to list its shares on the Nomu market, which allows companies to list and trade under more favorable terms compared to the main market.

A public offering on the main market requires a minimum of 20% of the company's shares to be offered, and the shares offered for subscription must be distributed to a minimum of 150 shareholders, according to the Algiers Stock Exchange website.

In contrast, on Nomu, a minimum of 10% of the company's shares can be offered and distributed among 50 shareholders or three institutional investors.

Moustachir raised more than 94 million Algerian dinars ($724,035) in its IPO, which was oversubscribed by more than 119%, with the participation of 306 shareholders, including 40% from institutions, 50% from individual investors, and 10% from qualified investors.