A major player in the field of irrigation systems and agrosupply solutions, the Moroccan Drip and Pumping Company (CMGP) has made a sensational debut on the Casablanca Stock Exchange. It achieved the third largest initial public offering (IPO) in the history of the market.
The operation, worth 1.1 billion dirhams (billion dirhams), recorded a demand of 40.69 billion dirhams, announced Monday the general director of the Casablanca market, Tarik Senhaji, during the ceremony. first listing of the Moroccan group.
The value was subscribed 37 times by 33,771 applicants. The overall amount subscribed corresponds to more than 203 million shares requested, with an overall satisfaction rate of nearly 2.7%.
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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%), while 98.72% of natural persons are Moroccan and 1.28% foreign.
With a market capitalization of 3.4 billion dirhams, the group now occupies 34th place among the 70 companies listed in Casablanca. “At the close of trading on Friday, the company took an important step by joining Group 1, a group reserved for the largest companies in the market,” said Mr. Senhaji.
The CEO of the company, Youssef Moamahindicated that this operation marks a decisive turning point in the evolution of CMGP Group. “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 says.
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Founded in 1995, CMGP Group is today a key pan-African group. This IPO marks a decisive step in its expansion, driven by a solid strategy and renewed ambition.
In addition to its role as national leader, CMGP has strengthened its presence in West Africa. With offices and subsidiaries in Senegal, Ivory Coast, Ghana and Mauritania, the company meets the growing demand for agricultural solutions in these regions.
