The public sale offer of 11.3% of the capital of Crédit du Maroc (CDM), carried out by Holmarcom Finance Company (HFC) from October 28 to November 1, 2024, was marked by exceptional enthusiasm.
This was announced by Holmarcom Group in a press release, noting that this operation attracted more than 13,000 subscribers, far exceeding initial expectations and demonstrating investors’ confidence in the bank’s growth plan. “Following this operation, the Holmarcom Group now holds, via its holding company HFC, 67.4% of the capital and voting rights of Crédit du Maroc,” specifies the same source. Thus, the Crédit du Maroc OPV encountered strong demand, according to the same press release, with a total amount subscribed amounting to 18.06 billion dirhams, i.e. an oversubscription rate of around 18 times.
“In total, 1,229,577 shares were allocated, representing a total amount of 1.03 billion dirhams. This great attractiveness of the CDM share attests to investors’ interest in the bank’s potential and its development prospects,” explains Holmarcom Group. As for the tranche reserved for Crédit du Maroc employees, it recorded demand 3 times higher than supply. As a reminder, the price of the public offer was set at 850 dirhams per share, while the tranche reserved for employees was offered under exclusive and accessible purchase and financing conditions with, in particular, a unit price of 680 dirhams.
Morocco
