The Moroccan Commercial and Financial Holding Company, Holmarcom SA, has reduced its direct stake in AtlantaSanad, dropping below the 10% threshold, according to a recent announcement by the Moroccan Capital Market Authority (AMMC).
On November 5, 2024, Holmarcom sold a significant block of 3,556,732 shares in AtlantaSanad, at a price of 120 dirhams per share. This sale lowered Holmarcom’s direct ownership to 5.21% of the insurance company’s capital, amounting to 3,139,697 shares. This move reflects a strategic recalibration of Holmarcom’s assets, though it continues to maintain a strong controlling interest indirectly through its subsidiary, Holmarcom Insurance Activities SA, which holds 55.92% of AtlantaSanad’s capital—equivalent to 33,712,970 shares.
Following this transaction, Holmarcom’s total stake—combining both direct and indirect holdings—now stands at 61.13% of AtlantaSanad. This repositioning illustrates a carefully planned portfolio strategy that still enables Holmarcom to exert significant influence over the governance of AtlantaSanad, a cornerstone of Morocco’s insurance sector.
As per stock market regulations, Holmarcom has informed the AMMC that it will refrain from any further sale of AtlantaSanad shares over the next six months. This pause aims to stabilize the company’s market value, providing greater confidence and clarity to investors regarding Holmarcom’s commitment to its stake in AtlantaSanad.
With a consolidated holding of 61.13%, Holmarcom remains a pivotal shareholder, reinforcing its influence over AtlantaSanad’s strategic direction and underscoring its long-term commitment to Morocco’s insurance industry. This recent adjustment aligns with Holmarcom’s broader goals to balance investment allocation while supporting sustainable growth in the sector.
The reshuffling comes as Holmarcom continues to diversify its holdings and adapt to the evolving Moroccan capital market landscape. It demonstrates Holmarcom’s agility and strategic foresight in managing complex asset portfolios while meeting regulatory expectations and aligning with investor interests.
