WHY and HOW to become a listed company

Why Go Public ? How to go public ?In which market?Who to contact?

Why Go Public ?

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.

Boost your company's growth

* 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.

Sustain your business

* Give your company the label of good governance and 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.

Why Go Public ?

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.

Boost your company's growth

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.

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 ...

M. Zouhair Bennani

CEO Label’Vie

The IPO of Label'Vie in 2008 allowed us, as pioneers in the retail sector, to initiate a new level of our development.

In addition, the stock market has allowed us greater flexibility in the structuring of our financing, and better exposure to Moroccan and foreign investors.

The IPO of Aradei Capital in 2020, the real estate company of which we are the historical sponsor, demonstrates all the interest in using the Stock Exchange as a powerful vector of financing.
Mme. Lamia Tazi

CEO SOTHEMA

The IPO of Sothema as the first national pharmaceutical laboratory to go public allowed us to institutionalize the company and facilitate its transmission.

We have also been able to improve the notoriety and credibility of our company with our partners and thus put all the milestones allowing us to establish our ambition today as a national leader in pharmaceutical production with strong internal and external growth drivers.
M. Mohamed Horani

CEO HPS

Our IPO has greatly strengthened the company's credibility internationally, reassured our clients in a transparent manner about our long-term viability, testified to the resilience of our organization and revealed our compliance with the best international standards.

There is no doubt in our experience that the Casablanca Stock Exchange is a valuable international business card and a key factor in improving our relations with our financial partners.

Listed companies attest ...

M. Zouhair Bennani

CEO Label’Vie

The IPO of Label'Vie in 2008 allowed us, as pioneers in the retail sector, to initiate a new level of our development.

In addition, the stock market has allowed us greater flexibility in the structuring of our financing, and better exposure to Moroccan and foreign investors.

The IPO of Aradei Capital in 2020, the real estate company of which we are the historical sponsor, demonstrates all the interest in using the Stock Exchange as a powerful vector of financing.

Mme. Lamia Tazi

CEO SOTHEMA

The IPO of Sothema as the first national pharmaceutical laboratory to go public allowed us to institutionalize the company and facilitate its transmission.

We have also been able to improve the notoriety and credibility of our company with our partners and thus put all the milestones allowing us to establish our ambition today as a national leader in pharmaceutical production with strong internal and external growth drivers.

M. Mohamed Horani

CEO HPS

Our IPO has greatly strengthened the company's credibility internationally, reassured our clients in a transparent manner about our long-term viability, testified to the resilience of our organization and revealed our compliance with the best international standards.

There is no doubt in our experience that the Casablanca Stock Exchange is a valuable international business card and a key factor in improving our relations with our financial partners.

The IPO in 4 steps

01

Préparation

Legal, financial and organizational compliance
Preparation of the Prospectus by the financial advisor
Selection of intermediaries

02

Arrangement

Structuring of the operation
Procedure with the Moroccan Capital Market Authority (AMMC)

03

Placement

Institutional and financial communication of the IPO transaction
Road show and press presentation
Subscription, allocation, closing and first listing"

04

Post production

Management of relations with investors, analysts and press
Financial communication

IPO process

The choice of the quotation market

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

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.