The initial public offering (IPO) of the CMGP group (Compagnie Marocaine de Goutte à Goutte et de Pompage) was subscribed 37 times by 33,771 subscribers, announced Monday in Casablanca, the general director of the Casablanca Stock Exchange, Tarik Senhaji.
“This operation amounting to 1.1 billion dirhams (billion dirhams) saw a recorded demand of 40.69 billion dirhams, the third largest introduction in the history of the Casablanca Stock Exchange,” said Senhaji during the the Group’s first listing ceremony.
The overall amount subscribed at the end of this operation (40.69 billion dirhams) corresponds to more than 203 million shares requested, with an overall satisfaction rate of nearly 2.7%, he detailed, noting that this This operation will enable CMGP Group to accelerate its development and contribute to national water saving and food security strategies.
Moroccan institutional investors represent 92.83% compared to 7.17% for foreign investors. The legal entities having subscribed to the IPO are mainly of Moroccan nationality (99.99%) and foreigners represent 0.01%, while 98.72% of natural persons are Moroccan and 1.28% foreign.
By region, the 20,042 investors from Casablanca-Settat won 74.7% of the shares, while the 5,010 subscribers from Rabat-Salé-Kénitra, 3,046 from Fès-Meknès and 1,112 from Souss-Massa grabbed 12.2% respectively. %, 3.99% and 2.66% of the shares.
“CMGP Group, with a market capitalization of 3.4 billion dirhams, now occupies 34th place among the 70 companies listed on the Casablanca Stock Exchange. At the close of trading on Friday, the company took an important step forward by joining Group 1, a group reserved for the largest companies in the market,” said Mr. Senhaji.
He also underlined the importance of this progress for the agricultural industry, a key sector for the national economy, stressing that this operation demonstrates the capacity of the Casablanca Stock Exchange to finance the national economy, support Moroccan companies to the search for growth drivers and meeting the economic challenges of the new development model (NMD).
A decisive turning point for CMGP Group
For his part, the CEO of CMGP Group, Youssef Moamah, indicated that this operation marks a decisive turning point in the evolution of CMGP Group, which is now positioned on the financial market, symbolizing the collective success of its teams and the trust established with its partners, investors and collaborators.
“While agriculture sometimes remains little-known, the group’s IPO reveals considerable investment potential and offers increased visibility in a market that is both strategic and sustainable,” he said.
According to Mr. Moamah, this listing is not simply a move to the stock market, but a marker of CMGP Group’s desire to diversify, further industrialize its operations, and strengthen itself to offer a more resilient and more respectful model. of the environment.
