Strong popularity for CMGP Group shares on the stock market. The demand for the securities of the specialist in the agricultural industry, operating in the areas of irrigation, solar and plant protection, which joined the stock market during the session of December 16, was significant. The operation, as announced exclusively by Les Inspirations ÉCO, was subscribed 37 times by 33,771 subscribers. This makes it the third largest IPO in the history of the Casablanca Stock Exchange.
The IPO of CMGP Group on December 16, 2024 marks an important milestone for the Moroccan economy and for the Casablanca Stock Exchange. This leader in the agricultural industry, operating in the fields of irrigation, solar and plant protection, has reached a new milestone in its expansion.
With demand 37 times higher than the initial offer, this operation is a resounding success which highlights the capacity of the Casablanca market to mobilize capital on a large scale, as we already announced exclusively in our December 10 edition. . Enough to make it the third largest IPO in the history of the Casablanca Stock Exchange.
A record operation
CMGP Group raised 1.1 billion dirhams through the issue of 1.5 million new shares and the sale of 4 million existing shares, at a unit price of 200 MAD. This operation, carried out between December 2 and 6, 2024, generated exceptional enthusiasm, with 203 million shares requested for only 5.5 million allocated.
The average satisfaction rate thus remained at 2.7%, a sign of investor appetite. The capital mobilized reflects a diversification of subscriber profiles: of the 33,771 participants, 98.9% were non-institutional investors, while Moroccan and foreign institutional investors represented 1.1%. The latter obtained a satisfaction rate of 1.91%, compared to 4.06% for natural persons. Casablanca-Settat concentrated 74.7% of the shares allocated, confirming its role as a national financial hub.
A turning point for the agricultural industry
The first company in the agricultural industry to go public, CMGP Group aspires to become a pan-African leader. The funds raised will make it possible to finance its continental development plan and strengthen its position in strategic sectors such as the supply of drinking water and renewable energies.
The company, which has evolved from a family structure to a major regional player, illustrates the growth potential of Moroccan SMEs thanks to access to the stock market. It thus joins a restricted circle of listed Moroccan companies, reinforcing the sectoral diversity of the Casablanca Stock Exchange.
Strengthened stock market dynamics
Since 2020, the Casablanca Stock Exchange has mobilized 82.3 billion dirhams through six IPOs. The CMGP Group operation is part of this dynamic, marking a new milestone in the financing of the national economy.
With impressive results and international participation, this IPO confirms the strategic place of Casablanca as the main African financial market. In short, the listing of CMGP Group on the stock market is not only a success for the company, but also proof of the growing confidence of investors in the Moroccan market.
This operation opens the way to new opportunities for companies seeking to finance their growth and establish themselves on the international scene. With an overall satisfaction rate of 2.7%, the CMGP Group IPO reflects the massive interest of investors in this promising sector and in fresh paper.
Record results
Amount raised: 1.1 billion MAD.
Shares proposed: 5.5 million at a unit price of 200 MAD.
Demand: 203 million shares, i.e. a subscription rate of 37 times higher than the offer.
Participants: 33,771 subscribers, including 373 institutional investors, 516 legal entities and 32,882 individuals.
Geographical distribution: Casablanca-Settat in the lead (74.7% of shares allocated), followed by Rabat-Salé-Kénitra (12.2%).
International diversity: 336 foreign subscribers, representing 45 nationalities.
El Mehdi Allabouch / ECO Inspirations
