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September 18, 2022 | 3 years ago
Creation of a SPA: Algerian startup raises 200 million DA
GroDesto is a
distribution logistics platform, composed of a mobile application and a website,
invested in the distribution of consumer products in Algeria. The project
received the “Innovative Project” label on 12 August 2021 from the Ministry of
Economy, Knowledge, Start-ups and Micro-enterprise. Speaking at a ceremony held
at the end of this constituent general meeting, Mr. Siaci stated that GroDesto
is the first Algerian start-up created through a public tender, to finance its
distribution logistics platform in accordance with the provisions of the
Algerian Commercial Code. This transaction was approved by the Commission
d’organization et de surveillance des operations de Bourse (COSOB), which
approved the information leaflet on the formation of the new company through
the public offering. In the context of this call, 200,000 shares with a nominal
value of 1,000 dinars each were opened, during the period from 5 May to 28
August, to the public, according to the information notice. This company will
have to create more than 50 direct jobs and more than 1,200 indirect jobs by
2023, according to its founder. Congratulating all the shareholders and all the
parties who contributed to the success of this first fundraising by an Algerian
start-up, Mr. Siaci said that the participants in the general meeting
unanimously approved the articles of association of the new company and the
composition of its board of directors and the appointment of the auditor. The
only thing left, he said, was to obtain its business register in the coming
days to begin its activities, ensuring that detailed quarterly balance sheets
would be drawn up to inform shareholders.
September 18, 2022 | 
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