This Monday, December 16, 2024, the official ceremony of the first listing of CMGP Group shares on the main market was held at the Casablanca Stock Exchange. A first in the Agricultural Industry sector, this IPO stood out with exceptionally strong demand. A look back in detail at this historic operation for two reasons.
A benchmark operator in the Agricultural Industry sector, notably a leader through its activities in irrigation, solar power, plant protection as well as in the supply of drinking water and sanitation, CMGP Group has successfully completed its IPO with the aim of financing its development, growth and ambition to strengthen its position in Africa.
Indeed, the CMGP Group IPO closed successfully, recording historic demand 37 times greater than supply. More than 33,771 investors expressed the wish to obtain a total mobilized amount of 40.6 billion DH, for the 1.1 billion DH initially requested as part of this operation.
“Also, December 16, 2024 is a day to be marked on the Casablanca Stock Exchange because not only is a company listing on the stock market and enriching the supply of fresh paper, but it is also a sector carrier of our economy which is now represented on the stock market”, we learn in the press release published on the occasion. And through this, the Casablanca Stock Exchange once again demonstrates its ability to mobilize savings as well as its usefulness and effectiveness in financing companies whatever their sector of activity or their size.
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And for good reason. With its positive results and impressive indicators, this IPO is a continuation of the latest fundraising operations carried out by the Casablanca Stock Exchange, in particular those of CFG Bank, Akdital and TGCC. This new success reconfirms the driving role that the Casablanca Stock Exchange can play in financing the national economy, in accordance with the mission assigned to it by the New Development Model.
In the space of a few years, the Casablanca Stock Exchange has managed to mobilize significant financing in a very efficient manner, in this case 82.3 billion DH mobilized for more than 4.2 billion DH requested through IPOs.
