Algiers, Paris – 25 March 2014 – Euronext Paris and Société de la Gestion de la Bourse des Valeurs (SGBV) are pleased to announce the signature of a Memorandum of Understanding (MOU) with a view to enhancing cooperation between their markets.
Under this agreement, Euronext Paris and SGBV will work together to develop their respective stock market ecosystems and make it easier for companies, in particular SMEs, to obtain financing through the stock market.
Main initiatives aimed at encouraging companies to finance growth on markets and helping Algeria’s financial market to expand include: 1) organising events for professionals in finance, including theme-based seminars, training and information sessions in Paris and Algiers, exchange of publications and experience, coordination of joint initiatives ; 2) backing financial research and innovation on topics of common interest including sustainable, environmental and social finance, corporate governance ; and 3) promotion and international development.
Anthony Attia, Chief Executive Officer of Euronext Paris, said, “We are very pleased to enter into this agreement with SGBV, which will enable us to build on our expertise and work with the Algiers Stock Exchange to promote financial markets to companies seeking capital. We look forward to taking part in the Algiers Stock Exchange’s global ambitions via our know-how in financial services.”
Yazid Benmouhoub, CEO of SGBV, added, “The closer ties between our two markets that will result from the signature of this agreement — an historic one for the Algiers Stock Exchange — cannot help but move us closer to achieving the goals we have set. We welcome this new alliance between Euronext Paris and the Algiers Exchange, which is right in line with our efforts to develop financial markets in Algeria.”
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