Alliance Assurances officially launched a securities operation on the Algiers Stock Exchange on 2 December, beginning a trading period to allow shareholders to manage "fractional shares" that resulted from a recent bonus issue of shares.
The securities operation follows the insurance company's share capital increase, which was announced on 5 June 2025 after an extraordinary general meeting. The increase amounted to DZD1,764.57m ($13.56m) raising the share capital to DZD5,293.71m.
This is part of the company’s plans to increase its share capital to DZD12bn by 2028-2029, said Mr Hassen Khelifati, CEO of Alliance Assurances.
Mr Khelifati indicated that the increase in share capital comprised the issuance of 4.64m bonus shares, allocated on a one-for-two basis. The nominal value per share is DZD380.
The securities operation allows shareholders to either sell their insufficient fractional entitlements or purchase additional fractions to round up to full shares, ensuring they can fully benefit from the bonus share distribution. This trading period will remain open for two months from the date of launch, with a specific notice to shareholders holding an odd number of shares to contact their intermediaries to “regularise their holdings through the sale or purchase of fractions.
Alliance Assurances, established in 2004, was listed on the Algiers Stock Exchange in March 2011. It was the first private company in Algeria to be listed on the bourse.
The insurer is constructing a new headquarters building, scheduled for completion in late 2026 or early 2027 in Bab Ezzouar. It will have a floor area of around 20,000 sq m and involves an investment of over DZD4bn.