Capital raising activities in Morocco soared to 67.77 billion dirhams (MMDH) during the first seven months of 2024, marking a significant rise from the 50.99 MMDH recorded over the same period last year, according to the Moroccan Capital Market Authority (AMMC).
This surge in capital raising was driven primarily by negotiable debt securities (TCN) issuances, which accounted for approximately 53 billion dirhams. In addition, bond issuances contributed 10.18 billion dirhams, while equity securities raised 4.59 billion dirhams, as per the AMMC’s recently released July 2024 capital market indicators.
For the month of July alone, capital raised totaled over 13.84 billion dirhams, consisting mainly of TCN issuances (nearly 11.79 billion dirhams) and bond issuances (2.06 billion dirhams).
The AMMC also reported a 7% year-on-year increase in outstanding securities lending operations, which reached 27.6 billion dirhams by the end of July.
