CMGP Group’s initial public offering (IPO) was a great success with subscription 37 times higher than the initial offer. No less than 33,771 investors participated in this operation worth 1.1 billion dirhams (billion dirhams), marking the third largest IPO in the history of the Casablanca Stock Exchange, Tarik Senhaji, general director, said on Monday. of the Stock Exchange, during the first listing ceremony.
The operation generated a total demand of 40.69 billion dirhams, corresponding to more than 203 million shares requested. Moroccan institutional investors dominated subscriptions with 92.83%, while individuals showed marked interest, particularly among young people and seniors. The Casablanca-Settat region concentrated 74.7% of subscribers, followed by Rabat-Salé-Kénitra, Fès-Meknès and Souss-Massa.
With this introduction, CMGP Group now has a market capitalization of MAD 3.4 billion and joins Group 1 of the Casablanca Stock Exchange, reserved for the largest companies. This operation will allow the group to accelerate its development and support national strategies for water saving and food security, major challenges for Moroccan agriculture.
For Youssef Moamah, CEO of CMGP Group, this IPO represents a strategic turning point aimed at strengthening the group’s industrialization, diversifying its activities and ensuring a more resilient and sustainable model. He also underlined the importance of this progress in revealing the investment potential of agriculture, a key sector for the national economy. The stock is now continuously listed under the label “CMGP Group”.
M.Ba.
Morocco
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