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The initial public offering (IPO) of CMGP Group recorded impressive figures, with a subscription rate 37 times higher than the amount initially proposed. No fewer than 33,771 subscribers participated, generating a total demand of 40.69 billion dirhams (MMDH), while the offer was only 1.1 MMDH. This is the third largest IPO in the history of the Casablanca Stock Exchange, according to its CEO, Tarik Senhaji.
In total, more than 203 million shares were requested, but the overall satisfaction rate was limited to 2.7%. The majority of institutional investors (92.83%) are Moroccan, while foreigners represent 7.17%, confirming a growing international interest in the Casablanca market. Among individual investors, Moroccans also dominate with 98.72% of subscriptions.
The geographical distribution shows a strong concentration in the Casablanca-Settat region, which accounts for 74.7% of the shares via 20,042 subscribers. The regions of Rabat-Salé-Kénitra, Fès-Meknès, and Souss-Massa follow with 12.2%, 3.99%, and 2.66% of subscriptions, respectively. By age group, 42% of subscribers are between 35 and 60 years old, while 25% are minors.
With a market capitalization of 3.4 MMDH, CMGP Group ranks 34th among the 70 companies listed on the Casablanca Stock Exchange. The company joins Group 1, reserved for major market players.
According to its CEO, Youssef Moamah, this IPO represents a decisive turning point for the company, marking its ambition to diversify and strengthen its model in order to address the environmental and economic challenges of the agricultural sector, which is key to the Moroccan economy.
On the first day of trading, the CMGP Group stock experienced strong demand, and the stock ended the day at 219.95 DH (+9.98%).
