The CMGP Group IPO was a resounding success, as evidenced by the impressive subscription figures: the offer was oversubscribed more than 40 times. It attracted 33,700 investors, a level rarely reached. The resulting overall satisfaction rate, one of the lowest ever recorded, stands at just 2.70%.
For Tarik Senhaji, Director General of the Casablanca Stock Exchange, “this operation is the most popular in the last 15 years and ranks as the third in history in terms of number of investors.”
A Popular Operation
Individual investors who opted for order type II reached 32,516 participants from 41 different nationalities and representing all regions of Morocco. The breakdown of demand shows that 40% comes from private sector employees, while students represent 17%. Another significant point: 7% of demand comes from foreign institutional investors. According to the operation’s advisors, this reflects the gain in visibility of the Moroccan market among international players.
Unsurprisingly, from its first listing, CMGP Group shares were subject to an upward trend, with demand exceeding 6 million shares. This strong start was expected, given the enthusiasm generated by the operation.
This IPO closes an exceptional year for the Moroccan stock market, which reached a historic milestone in 2024, surpassing for the first time the highs of 2008. Market capitalization reached 756 billion dirhams at the end of the year.
Morocco
