The Algeria Market Authority has established a framework under which innovative, high growth companies may seek admission to the stock exchange’s Growth segment without two completed years of certified financial statements. The discretionary waiver is available to companies holding a Startup or scale-up label whose limited operating history prevents them from meeting that requirement, provided their activity, maturity, business model, growth prospects, funding needs and principal risks can be assessed reliably. It complements earlier fee waivers and simplified procedures intended to support startup access to the public market. COSOB will assess applicants using operational, commercial, governance and financial indicators suited to their business and development stage. Applicants must provide available financial information and a development plan covering funding needs, projections, planned use of proceeds, milestones and risks. The listing sponsor must report its due diligence, while offering documents must explain the waiver, valuation methods and assumptions, and the proposed use of funds. COSOB may also require additional reporting after admission on business performance, implementation of the development plan, use of proceeds and financial condition.
Algeria Market Authority sets financial history waiver framework for innovative companies seeking Growth segment listings
The Algeria Market Authority has set conditions for Startup or scale-up labelled companies to seek Growth segment listings without two years of certified financial statements. Waivers will be discretionary and based on evidence of operational maturity, business viability, growth prospects, funding needs and risks. Applicants remain subject to detailed disclosure, due diligence and potential additional reporting after admission.