INSAG Education Group, an Algerian higher education player, expects a direct listing of its shares on the Growth market on Algiers Stock Exchange that hosts the small and medium-sized enterprises, during the first quarter of 2026, the group’s General Director Nassim Lounes told Zawya Arabic last Thursday.

A statement issued by the Commission for the Organization and Supervision of Stock Market Operations in Algeria this month indicated the group's intention to list its shares on the stock exchange, without mentioning the timeline or specifying whether this would be through an initial public offering (IPO) or direct listing.

"The group is moving towards a direct listing of its shares on the market without an IPO," Lounes said. He added: “Trading of INSAG Education Group's shares is expected to begin during the first quarter of 2026,” following the completion of valuation and obtaining the necessary approvals. 

Algiers Stock Exchange 

The group is the first in the country's education sector to announce its intention to enter the Algerian stock exchange. Currently, no company from the education sector is traded on the bourse.

Eight companies are currently traded across two markets: the main market and the Growth market, spanning the insurance, tourism, hospitality, pharmaceutical, consulting, and banking sectors.

This comes as the Algiers Stock Exchange witnessed two new public offerings this year, amid expectations of further entrants supported by a government IPO plan and incentives to attract startups.

In early 2025, the stock exchange welcomed Moustachir, the first startup to enter the market, as well as the listing of the state-owned Local Development Bank.

About INSAG and its plans

The group has been operating in Algeria for more than 30 years, through a higher institute and a business school, in addition to its training and postgraduate services. Its turnover exceeded 250 million dinars ($1.9 million) during 2024.

The group expects its revenue to surge by more than 40% year-on-year during 2025, supported by an increase in student numbers, expansion of academic programs, and improved operational efficiency.

The group seeks to expand locally by establishing new branches in Algeria, developing its digital infrastructure, and increasing investment in online education, Lounes said without specifying a timeline.

However, he added: "Future expansions will be financed through the group's own capital, in addition to resources mobilized after the listing."

Click here to read the article in Arabic.