Algeria / Sonelgaz garners 30 billion Dinars at the Stock Exchange

The CEO of the national Gas and Electricity Company Nourredine Bouterfa has announced in Algiers that Sonelgaz has succeeded, through its second bond issue operation, launched last June, in garnering around 30 billion Dinars.

• A total of 6 million shares of a unitary value of 5000 dinars were acquired by numerous citizens at 5 percent interest, refundable annually, starting from June 1st 2009.
• Nourredine Bouterfa also said that this financial package, deriving from the bond issue operation and estimated at 300 million Euros, would mainly serve for the financing by Sonelgaz of several major energy-related projects in the next few years.
• He further indicated, by the same token, that the projected electricity price hikes advocated by Sonelgaz, were not the order of the day for the time being.