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WHY and HOW to become a listed company

Why Go Public ?

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Raise Capital

  • Benefit from advantageous financing, without the need for collateral and at a lower cost, adapted to your company's projects;
  • Diversify and optimize your future fundraising;
  • Permanently evaluate your business and benefit from immediate liquidity.
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Boost your company's growth

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  • Develop your business and your products, attract new customers and explore new markets;
  • Strengthen your capital to boost your expansion projects in Morocco and internationally;
  • Attract quality investors ready to support your growth projects over the long term.
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Sustain your business

  • Give your company the label of good governance of world-renowned reputation;
  • Guarantee a smooth transmission and institutionalize your business;
  • Improve the image and reputation of your company with your customers, suppliers, employees and partners.

Listed companies attest ...

IPO process

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Le choix du marché de cotation

The Main Market

  • Take advantage of a strong demand from national and international professional and institutional investors.
  •  Benefit from an attractive valuation and an immediate liquidity.
  •  Adopt the best international standards of communication and governance.

The alternative market

  • Benefit from an easier access to the stock market (minimum raising of 5 million Dirhams, only 1 certified fiscal year, etc.).
  • Use a simplified IPO process adapted to small and medium-sized companies.
  • Meet streamlined governance, information and communication requirements.

Does my company classify as an SME?

The alternative market is reserved for the company that meets at least one of the following three criteria :
1. Annual revenues of less than 500 million dirhams, or
2. Total balance sheet of less than 200 million dirhams, or
3. Number of employees less than 300

Did you know

A reduction of the rate Corporate of income tax of 50% during 3 consecutive years is granted to the companies which introduce their securities in the stock exchange by increase of capital of at least 20% with abandonment of the preferential subscription right, intended to be diffused in the public.

A reduction of the rate of Corporate income tax of 25% during 3 consecutive years is granted to the companies which introduce their securities in the stock exchange by opening their capital to the public and this, by the transfer of existing shares.

The "Offre PME" is an initiative jointly carried out by the Moroccan Capital Market Authority, the Casablanca Stock Exchange, Maroclear and the Professional Association of Stock Exchange Companies (APSB). Its main goal is to address the concrete problems faced by SMEs wishing to finance themselves via the capital market. It is articulated around 3 components:

  • A reduction of 50% of the introduction fees to the Alternative Market of the Casablanca Stock Exchange ;
  • The establishment of a single desk to optimize market access procedures;
  • The establishment of a training and support system for SMEs.

Latest transactions on the stock exchange

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Initial Public Offering (IPO) AKDITAL
  • Overall amount of the offer: MAD 1,2 billions
  • Amount Subscribed: MAD 4,5 billions
  • IPO subscription: x3,7
  • Retail investors: +7.915 subscribers
Learn more
dsity
DISTY TECHNOLOGIES IPO : 1st SME to be listed on the alternative market
  •  
  • Overall amount of the offer: 172 MMAD
  • Amount subscribed: 230 MMAD
  • IPO subscription: x1,34
  • Retail investors: +1 255 subscribers
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Learn more
disty
Initial Public Offering (IPO) TGCC
  • Overall amount of the offer: 600 MMAD
  • Amount subscribed: 13.4 billion MAD
  • IPO subscription: x22
  • Retail investors: +11 200 subscribers
Learn more
augmentation_de_capital_de_cih_bank
Capital Increase CIH BANK
  • Overall amount of the offer: MAD 200 millions
  • Amount Subscribed : MAD 200 millions
  • IPO subscription: x1
Learn more
augmentation_de_capital_de_aradei_capital
Capital Increase ARADEI CAPITAL
  • Overall amount of the offer: MAD 250 millions
  • Amount Subscribed : MAD 260 millions
  • IPO subscription : x1,04
Learn more
augmentation_de_capital_de_label_vie
Capital Increase LABEL VIE
  • Overall amount of the offer : MAD 179 millions
  • Amount Subscribed : MAD 225 millions
  • IPO subscription : x1,27
Learn more
mutandis
Capital increase of MUTANDIS SCA
  • Overall amount of the offer : MAD 300 millions
  • Amount Subscribed : 2 Md MAD
  • IPO subscription : x6,8
Learn more

Casablanca Stock Exchange in numbers at the end of 2022

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Capitalization Stock market

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Listed Companies

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Availability Trading platform LSEG Technology

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The IPO guide
Download the guide