CIH Bank has successfully concluded its capital increase operation, which was reserved for shareholders and holders of preferential subscription rights, through the issuance of 977,499 new shares. This capital increase amounts to 349.944 million dirhams, divided into 97.749 million dirhams in share capital and 252.194 million dirhams in issuance premiums, according to a statement from the bank published on the Moroccan Capital Market Authority (AMMC) website.
The bank’s board of directors, in a meeting held on August 28, 2024, confirmed the completion of this operation in accordance with the terms outlined in the prospectus approved by the AMMC on June 28, 2024, under reference VI/EM/020/2024. At the end of the subscription period, the total number of new shares allocated amounted to 977,499, representing the maximum number of shares for this operation, achieving a realization rate of 100%.
As a result of this operation, CIH Bank’s share capital increased from 3.051 billion dirhams to 3.149 billion dirhams.
The successful completion of the operation, with an overall subscription level of 123%, particularly for the shares listed on the stock exchange where the subscription rate exceeded 200%, reflects the strong confidence of investors in the bank’s fundamentals and future prospects, the statement concluded.
